Franco-Nevada (TSE:FNV) Shares Pass Above 200 Day Moving Average - Here's Why

Key Points

• Franco-Nevada shares rose above their 200-day moving average, reaching C$369.40 and last trading at C$364.59, compared with the C$327.35 average.
• Analysts have become more bullish, with National Bank Financial and TD Securities upgrading the stock to “strong buy.” The consensus rating is “Strong Buy,” with a C$356.56 price target.
• The company reported C$2.57 in quarterly EPS and C$825.33 million in revenue, while insider Sandip Rana sold 10,000 shares worth about C$3.45 million.

Franco-Nevada Co. (TSE:FNV - Get Free Report) NYSE: FNV shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$327.35 and traded as high as C$369.40. Franco-Nevada shares last traded at C$364.59, with a volume of 746,927 shares traded.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Stifel Nicolaus upped their target price on Franco-Nevada from C$380.00 to C$390.00 in a research report on Friday, July 17th. National Bank Financial raised shares of Franco-Nevada from a "hold" rating to a "strong-buy" rating and lifted their price target for the company from C$410.00 to C$420.00 in a research report on Wednesday, May 13th. Finally, TD Securities upgraded shares of Franco-Nevada from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 20th. Three equities research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to data from MarketBeat, Franco-Nevada has a consensus rating of "Strong Buy" and a consensus price target of C$356.56.

Franco-Nevada Stock Performance

The firm's 50-day moving average is C$315.51 and its two-hundred day moving average is C$327.35. The stock has a market cap of C$70.32 billion, a P/E ratio of 47.66, a PEG 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. Franco-Nevada had a net margin of 63.83% and a return on equity of 18.95%. The company had revenue of C$825.33 million during the quarter. As a group, research analysts forecast that Franco-Nevada Co. will post 3.1114111 EPS for the current year.

Insiders Place Their Bets

In other Franco-Nevada news, insider Sandip Rana sold 10,000 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of C$344.87, for a total value of C$3,448,700.00. Following the transaction, the insider owned 60,274 shares of the company's stock, valued at approximately C$20,786,694.38. This represents a 14.23% decrease in their ownership of the stock. Insiders own 0.69% of the company's stock.

Franco-Nevada Company Profile

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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