Franco Nevada (TSE:FNV) (NYSE:FNV) had its target price upped by stock analysts at JPMorgan Chase & Co. from C$110.00 to C$117.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 5.96% from the stock’s current price.
A number of other research analysts have also recently issued reports on FNV. Royal Bank of Canada restated a “sector perform” rating on shares of Franco Nevada in a report on Thursday, August 8th. Canaccord Genuity boosted their price objective on shares of Franco Nevada from C$125.00 to C$127.00 in a report on Friday, July 19th. National Bank Financial boosted their price objective on shares of Franco Nevada from C$127.50 to C$130.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. CIBC boosted their price objective on shares of Franco Nevada from C$120.00 to C$125.00 in a report on Monday, July 15th. Finally, Eight Capital cut shares of Franco Nevada from a “buy” rating to a “neutral” rating and boosted their price objective for the company from C$110.00 to C$125.00 in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average target price of C$123.50.
TSE FNV traded up C$1.09 during trading on Wednesday, reaching C$124.41. 452,033 shares of the stock traded hands, compared to its average volume of 515,385. The company has a market capitalization of $23.22 billion and a price-to-earnings ratio of 154.84. The firm’s 50-day moving average is C$115.64. The company has a current ratio of 2.67, a quick ratio of 2.49 and a debt-to-equity ratio of 9.06. Franco Nevada has a fifty-two week low of C$76.53 and a fifty-two week high of C$127.92.
In other news, Director David Harquail sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of C$104.70, for a total value of C$1,047,000.00. Following the completion of the transaction, the director now owns 75,864 shares in the company, valued at C$7,942,960.80. Also, Senior Officer Philip Dane Wilson sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$125.61, for a total transaction of C$1,884,195.00. Following the completion of the transaction, the insider now owns 11,139 shares of the company’s stock, valued at approximately C$1,399,203.21. In the last 90 days, insiders have sold 48,000 shares of company stock valued at $5,451,855.
About Franco Nevada
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.
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