Franco-Nevada (TSE:FNV) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Franco-Nevada Co. (TSE:FNV) (NYSE:FNV) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$175.58 and traded as high as C$201.79. Franco-Nevada shares last traded at C$200.91, with a volume of 215,261 shares trading hands.

Wall Street Analysts Forecast Growth

FNV has been the subject of a number of recent research reports. UBS Group upgraded shares of Franco-Nevada to a “strong-buy” rating in a report on Monday, November 18th. CIBC raised their price target on shares of Franco-Nevada from C$235.00 to C$245.00 in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group reduced their price objective on shares of Franco-Nevada from C$198.00 to C$190.00 and set a “strong-buy” rating on the stock in a report on Monday, November 18th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Franco-Nevada currently has an average rating of “Buy” and a consensus target price of C$190.80.

Franco-Nevada Trading Down 1.8 %

The stock has a market capitalization of C$26.77 billion, a P/E ratio of -42.60, a P/E/G ratio of 5.00 and a beta of 0.68. The stock’s 50 day simple moving average is C$185.06 and its 200 day simple moving average is C$175.90.

About Franco-Nevada

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.