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

Key Points

• Franco-Nevada shares crossed above their 200-day moving average, reaching C$373.54 before closing at C$362.82. The stock’s 200-day average was C$328.16.
• Analysts remain bullish: Stifel Nicolaus raised its price target to C$390, while TD Securities upgraded the stock to “strong buy.” The consensus rating is “Strong Buy,” with an average target of C$356.56.
• The company reported quarterly EPS of C$2.57 on revenue of C$825.33 million, with a 63.83% net margin. Insider Sandip Rana also sold 5,000 shares worth approximately C$1.82 million.

Franco-Nevada Co. (TSE:FNV - Get Free Report) NYSE: FNV passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$328.16 and traded as high as C$373.54. Franco-Nevada shares last traded at C$362.82, with a volume of 219,075 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently 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 note on Friday, July 17th. TD Securities raised Franco-Nevada from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 20th. Three research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Strong Buy" and an average price target of C$356.56.

Franco-Nevada Stock Down 1.0%

The company has a market cap of C$69.98 billion, a PE ratio of 47.43, a P/E/G ratio of 5.00 and a beta of 1.10. The stock's 50 day simple moving average is C$331.01 and its two-hundred day simple moving average is C$328.16.

Franco-Nevada (TSE:FNV - Get Free Report) NYSE: FNV last released its quarterly earnings data on Tuesday, August 11th. The company reported C$2.57 EPS for the quarter. The business had revenue of C$825.33 million during the quarter. Franco-Nevada had a return on equity of 18.95% and a net margin of 63.83%. Analysts forecast that Franco-Nevada Co. will post 3.1114111 EPS for the current year.

Insider Transactions at Franco-Nevada

In other news, insider Sandip Rana sold 5,000 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of C$364.37, for a total value of C$1,821,850.00. Following the completion of the sale, the insider owned 60,274 shares of the company's stock, valued at C$21,962,037.38. This represents a 7.66% decrease in their ownership of the stock. Company 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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