Franco-Nevada (TSE:FNV) Shares Cross Above 200 Day Moving Average – Here’s Why

Franco-Nevada Co. (TSE:FNV) (NYSE:FNV) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$170.19 and traded as high as C$184.56. Franco-Nevada shares last traded at C$182.77, with a volume of 106,371 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group raised shares of Franco-Nevada to a “strong-buy” rating in a report on Monday, November 18th. Stifel Nicolaus upped their price objective on shares of Franco-Nevada from C$200.00 to C$215.00 in a research report on Monday, October 21st. CIBC lifted their price target on Franco-Nevada from C$235.00 to C$245.00 in a research note on Monday, December 2nd. Finally, Canaccord Genuity Group lowered their price objective on shares of Franco-Nevada from C$198.00 to C$190.00 and set a “strong-buy” rating for the company in a report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$190.80.

Franco-Nevada Stock Up 0.3 %

The firm has a market cap of C$35.28 billion, a P/E ratio of -43.76, a price-to-earnings-growth ratio of 5.00 and a beta of 0.68. The company has a fifty day simple moving average of C$172.22 and a 200-day simple moving average of C$170.28. The company has a quick ratio of 23.26, a current ratio of 29.11 and a debt-to-equity ratio of 1.63.

Franco-Nevada Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a $0.487 dividend. This represents a $1.95 annualized dividend and a yield of 1.06%. The ex-dividend date was Thursday, December 5th. Franco-Nevada’s payout ratio is currently -46.30%.

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.