Franco-Nevada (TSE:FNV) Stock Price Passes Above 200-Day Moving Average on Insider Selling

Key Points

• Franco-Nevada (TSE:FNV) shares surpassed their 200-day moving average after an insider purchase, reaching a high of C$273.65 during trading.
• Analysts have raised their price targets, with Bank of America increasing it to C$290.00, reflecting strong market optimism, as the stock currently holds a consensus rating of "Strong Buy."
• The company operates as a precious-metals-focused royalty and investment business, generating revenue primarily from gold, silver, and platinum without conducting mining or exploration activities.

Franco-Nevada Co. (TSE:FNV - Get Free Report) NYSE: FNV shares passed above its 200-day moving average during trading on Tuesday after an insider bought additional shares in the company. The stock has a 200-day moving average of C$228.53 and traded as high as C$273.65. Franco-Nevada shares last traded at C$271.85, with a volume of 262,040 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FNV shares. Canaccord Genuity Group lifted their target price on Franco-Nevada from C$262.00 to C$267.00 in a research report on Tuesday, June 10th. Bank of America lifted their price target on shares of Franco-Nevada from C$255.00 to C$290.00 in a research note on Friday, August 29th. Finally, BMO Capital Markets increased their price objective on Franco-Nevada from C$260.00 to C$261.00 in a research note on Wednesday, May 28th. Three analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Strong Buy" and an average target price of C$240.00.

Franco-Nevada Stock Performance

The business's fifty day moving average price is C$236.25 and its two-hundred day moving average price is C$228.53. The firm has a market capitalization of C$52.39 billion, a P/E ratio of 66.79, a PEG ratio of 5.00 and a beta of 0.53.

About Franco-Nevada

Franco-Nevada Corp is a precious-metals-focused royalty and investment company. The company owns a diversified portfolio of precious metals and royalty streams, which is actively managed to generate the bulk of its revenue from gold, silver, and platinum. The company does not operate mines, develop projects, or conduct exploration.

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