Franco Nevada (TSE:FNV) (NYSE:FNV) had its target price raised by investment 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 target price would indicate a potential downside of 5.96% from the company’s previous close.
A number of other research firms have also recently issued reports on FNV. Royal Bank of Canada restated a “sector perform” rating on shares of Franco Nevada in a research report on Thursday, August 8th. Eight Capital cut Franco Nevada from a “buy” rating to a “neutral” rating and increased their target price for the stock from C$110.00 to C$125.00 in a report on Thursday, August 8th. National Bank Financial upped their price target on Franco Nevada from C$127.50 to C$130.00 and gave the company a “sector perform” rating in a research note on Thursday, August 8th. Canaccord Genuity increased their target price on Franco Nevada from C$125.00 to C$127.00 in a research note on Friday, July 19th. Finally, CIBC raised their price target on Franco Nevada from C$120.00 to C$125.00 in a research report on Monday, July 15th. Five analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average target price of C$123.50.
FNV traded up C$1.09 on Wednesday, hitting C$124.41. The company had a trading volume of 452,033 shares, compared to its average volume of 515,385. The stock’s fifty day simple moving average is C$115.64. Franco Nevada has a 1-year low of C$76.53 and a 1-year high of C$127.92. The company has a debt-to-equity ratio of 9.06, a quick ratio of 2.49 and a current ratio of 2.67. The company has a market capitalization of $23.22 billion and a PE ratio of 154.84.
In related news, Senior Officer Philip Dane Wilson sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of C$106.00, for a total transaction of C$848,000.00. Following the transaction, the insider now directly owns 11,139 shares of the company’s stock, valued at approximately C$1,180,734. Also, Senior Officer Eaun Harrison Gray sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$112.00, for a total value of C$560,000.00. Following the transaction, the insider now directly owns 203 shares in the company, valued at C$22,736. Insiders have sold a total of 48,000 shares of company stock worth $5,451,855 in the last 90 days.
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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