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

Franco-Nevada Co. (TSE:FNV) (NYSE:FNV)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Canaccord Genuity Group lowered their price target 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. CIBC raised their target price on shares of Franco-Nevada from C$235.00 to C$245.00 in a research report on Monday, December 2nd. Finally, UBS Group upgraded shares of Franco-Nevada to a “strong-buy” rating in a research report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$190.80.

Franco-Nevada Price Performance

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

Franco-Nevada Company Profile

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.