Trading Report: The National Bank Financial lowers the Stock rating of Franco Nevada Corp (FNV)

The National Bank Financial lowers the Stock rating of Franco Nevada Corp (FNV)

Franco Nevada Corp (TSE:FNV) was downgraded by equities researchers at National Bank Financial from an “outperform overweight” rating to a “sector perform market weight” rating in a research report issued on Wednesday.

A number of other brokerages have also commented on FNV. CIBC increased their price objective on shares of Franco Nevada Corp from C$100.00 to C$110.00 in a report on Wednesday, August 10th. TD Securities reissued a “hold” rating and set a C$77.00 price objective on shares of Franco Nevada Corp in a report on Wednesday, August 10th. Finally, Canaccord Genuity cut their target price on shares of Franco Nevada Corp from C$105.00 to C$86.00 in a research report on Tuesday, July 12th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Franco Nevada Corp presently has a consensus rating of “Hold” and an average target price of C$82.08.

Franco Nevada Corp (TSE:FNV) traded down 2.19% on Wednesday, hitting $83.54. 189,833 shares of the stock traded hands. The company’s 50 day moving average price is $92.05 and its 200-day moving average price is $91.57. Franco Nevada Corp has a 12-month low of $58.67 and a 12-month high of $105.69. The stock has a market capitalization of $14.88 billion and a P/E ratio of 247.16.

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