Franco-Nevada (TSE:FNV) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Franco-Nevada shares crossed above their 200-day moving average, reaching C$334.29 and last trading at C$334.13, up 0.7%.
• Analyst sentiment remains strongly positive: Stifel Nicolaus raised its price target to C$410 and rated the stock “Buy,” while the broader analyst consensus is “Strong Buy” with an average target of C$358.78.
• The company reported C$2.57 in quarterly earnings per share and C$825.33 million in revenue; separately, insider Sandip Rana sold 10,000 shares, reducing his holdings by 14.23%.

Shares of Franco-Nevada Co. (TSE:FNV - Get Free Report) NYSE: FNV crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$333.26 and traded as high as C$334.29. Franco-Nevada shares last traded at C$334.13, with a volume of 318,570 shares.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus upped their target price on shares of Franco-Nevada from C$390.00 to C$410.00 and gave the stock a "buy" rating in a research report on Monday, October 19th. Three research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat, Franco-Nevada has an average rating of "Strong Buy" and an average target price of C$358.78.

Franco-Nevada Stock Up 0.7%

The firm has a market capitalization of C$64.44 billion, a PE ratio of 43.68, a P/E/G ratio of 5.00 and a beta of 1.07. The business's fifty day moving average price is C$354.21 and its 200 day moving average price is C$333.26.

Franco-Nevada (TSE:FNV - Get Free Report) NYSE: FNV last released its earnings results on Tuesday, August 11th. The company reported C$2.57 earnings per share for the quarter. Franco-Nevada had a return on equity of 18.95% and a net margin of 63.83%. The firm had revenue of C$825.33 million for the quarter. As a group, sell-side analysts forecast that Franco-Nevada Co. will post 3.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Franco-Nevada

In other news, insider Sandip Rana sold 10,000 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of C$344.87, for a total transaction of C$3,448,700.00. Following the completion of the sale, the insider owned 60,274 shares in the company, valued at approximately C$20,786,694.38. The trade was a 14.23% decrease in their position. Company insiders own 0.69% of the company's stock.

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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