Franco Nevada Corp (FNV) Downgraded by National Bank Financial
Franco Nevada Corp (TSE:FNV) was downgraded by analysts at National Bank Financial from an “outperform overweight” rating to a “sector perform market weight” rating in a research report issued to clients and investors on Wednesday.
Other research analysts also recently issued research reports about the stock. Canaccord Genuity decreased their price objective on shares of Franco Nevada Corp from C$105.00 to C$86.00 in a research report on Tuesday, July 12th. TD Securities reissued a “hold” rating and issued a C$77.00 price objective on shares of Franco Nevada Corp in a research report on Wednesday, August 10th. Finally, CIBC lifted their price objective on shares of Franco Nevada Corp from C$100.00 to C$110.00 in a research report on Wednesday, August 10th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Franco Nevada Corp presently has an average rating of “Hold” and a consensus target price of C$82.08.
Franco Nevada Corp (TSE:FNV) traded down 2.08% during mid-day trading on Wednesday, reaching $83.63. 171,926 shares of the company were exchanged. Franco Nevada Corp has a 12-month low of $58.67 and a 12-month high of $105.69. The stock has a market capitalization of $14.89 billion and a price-to-earnings ratio of 247.43. The company’s 50 day moving average price is $92.05 and its 200-day moving average price is $91.57.
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About Franco Nevada Corp
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company’s additional interests are in platinum group metals and other resource assets. The Company operates in the segment of resource sector royalty/stream acquisitions and management activities. The Company’s business model provides investors with gold price and exploration optionality.
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