Franco-Nevada (TSE:FNV) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Franco-Nevada shares rose above their 200-day moving average of C$325.75, reaching as high as C$335.51 before last trading at C$329.39.
• Analyst sentiment is strongly bullish: three analysts rate the stock “Strong Buy” and two rate it “Buy,” with an average price target of C$356.56. Several firms recently raised their targets, including National Bank Financial to C$420.
• The company reported C$2.57 in quarterly EPS and C$825.33 million in revenue, with a 65.14% net margin and 18.67% return on equity. However, its valuation remains elevated at a P/E ratio of 46.39 and PEG ratio of 5.00.

Franco-Nevada Co. (TSE:FNV - Get Free Report) NYSE: FNV shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$325.75 and traded as high as C$335.51. Franco-Nevada shares last traded at C$329.39, with a volume of 472,242 shares trading hands.

Analyst Ratings Changes

Several equities analysts have commented on the stock. National Bank Financial upgraded shares of Franco-Nevada from a "hold" rating to a "strong-buy" rating and upped their price objective for the company from C$410.00 to C$420.00 in a report on Wednesday, May 13th. Stifel Nicolaus raised their target price on shares of Franco-Nevada from C$380.00 to C$390.00 in a research note on Friday, July 17th. BMO Capital Markets lifted their target price on shares of Franco-Nevada from C$370.00 to C$410.00 in a report on Wednesday, April 22nd. TD Securities upgraded shares of Franco-Nevada from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 20th. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 29th. Three research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Strong Buy" and an average price target of C$356.56.

Franco-Nevada Stock Performance

The stock has a fifty day simple moving average of C$303.13 and a two-hundred day simple moving average of C$325.75. The stock has a market cap of C$63.52 billion, a price-to-earnings ratio of 46.39, a P/E/G ratio of 5.00 and a beta of 0.96.

Franco-Nevada (TSE:FNV - Get Free Report) NYSE: FNV last issued its earnings results on Tuesday, August 11th. The company reported C$2.57 EPS for the quarter. The firm had revenue of C$825.33 million during the quarter. Franco-Nevada had a return on equity of 18.67% and a net margin of 65.14%. Equities analysts expect that Franco-Nevada Co. will post 3.1114111 earnings per share for the current fiscal year.

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. Franco-Nevada's short-term financial performance is linked to the price of commodities and the amount of production from its portfolio of producing assets. Its long-term performance is affected by the availability of exploration and development capital.

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