Franco Nevada (TSE:FNV) (NYSE:FNV) had its price objective lifted by equities research analysts at JPMorgan Chase & Co. from C$110.00 to C$117.00 in a research note issued on Wednesday, BayStreet.CA reports. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 5.96% from the company’s current price.
A number of other equities analysts also recently commented on the stock. CIBC raised their price objective on shares of Franco Nevada from C$120.00 to C$125.00 in a report on Monday, July 15th. Canaccord Genuity raised 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 raised their price objective on shares of Franco Nevada from C$127.50 to C$130.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Eight Capital downgraded shares of Franco Nevada from a “buy” rating to a “neutral” rating and raised their price objective for the stock from C$110.00 to C$125.00 in a report on Thursday, August 8th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Franco Nevada in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating, Franco Nevada has a consensus rating of “Hold” and an average target price of C$123.50.
Shares of TSE:FNV traded up C$1.09 during midday trading on Wednesday, reaching C$124.41. 452,033 shares of the company’s stock were exchanged, compared to its average volume of 515,385. The business has a 50 day moving average price of C$115.64. The stock has a market cap of $23.22 billion and a price-to-earnings ratio of 154.84. Franco Nevada has a 12 month low of C$76.53 and a 12 month high of C$127.92. The company has a debt-to-equity ratio of 9.06, a current ratio of 2.67 and a quick ratio of 2.49.
In other news, Senior Officer Philip Dane Wilson sold 8,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of C$106.00, for a total transaction of C$848,000.00. Following the completion of 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 Franco Nevada stock in a transaction dated Monday, June 24th. The shares were sold at an average price of C$112.00, for a total transaction of C$560,000.00. Following the transaction, the insider now directly owns 203 shares of the company’s stock, valued at C$22,736. Insiders have sold a total of 48,000 shares of company stock valued at $5,451,855 over the last ninety 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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