Franco-Nevada (TSE:FNV) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Franco-Nevada shares moved above their 200-day moving average, reaching C$370.34 before closing at C$363.82, compared with the C$328.31 average.
• Analyst sentiment is strongly positive: National Bank Financial and TD Securities upgraded the stock to “strong buy,” while Stifel Nicolaus raised its price target to C$390. The consensus rating is “Strong Buy,” with a C$356.56 price target.
• The company reported quarterly revenue of C$825.33 million and EPS of C$2.57, alongside a 63.83% net margin. Separately, insider Sandip Rana sold 5,000 shares worth approximately C$1.82 million.

Franco-Nevada Co. (TSE:FNV - Get Free Report) NYSE: FNV's share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$328.31 and traded as high as C$370.34. Franco-Nevada shares last traded at C$363.82, with a volume of 166,320 shares.

Analyst Ratings Changes

A number of equities research analysts have commented on FNV shares. Stifel Nicolaus raised their price objective on Franco-Nevada from C$380.00 to C$390.00 in a research report on Friday, July 17th. National Bank Financial upgraded Franco-Nevada from a "hold" rating to a "strong-buy" rating and upped their target price for the company from C$410.00 to C$420.00 in a report on Wednesday, May 13th. Finally, TD Securities raised shares of Franco-Nevada from a "hold" rating to a "strong-buy" rating in a research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Strong Buy" and a consensus price target of C$356.56.

Franco-Nevada Stock Down 1.1%

The stock's 50 day moving average price is C$323.33 and its two-hundred day moving average price is C$328.31. The firm has a market capitalization of C$70.17 billion, a price-to-earnings ratio of 47.56, a P/E/G ratio of 5.00 and a beta of 1.10.

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 earnings per share (EPS) 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 during the quarter. On average, equities analysts expect that Franco-Nevada Co. will post 3.1114111 EPS for the current fiscal year.

Insider Transactions at Franco-Nevada

In other Franco-Nevada news, insider Sandip Rana sold 5,000 shares of the business's stock in a transaction that occurred 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 directly owned 60,274 shares of the company's stock, valued at C$21,962,037.38. The trade was a 7.66% decrease in their ownership of the stock. 0.69% of the stock is owned by company insiders.

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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