Is Buying Franco-Nevada Corporation (FNV) Here a Winning Strategy? The Stock Formed Bullish Double Top Pattern

December 7, 2017 - By Nellie Frank

The chart of Franco-Nevada Corporation (FNV) shows a double top with $80.11 target or 3.00 % above today’s $77.78 share price. The 9 months chart pattern indicates low risk for the $14.56B company. It was reported on Dec, 7 by If the $80.11 price target is reached, the company will be worth $436.89M more. Double tops are rare but powerful chart patterns.

The stock decreased 0.54% or $0.42 during the last trading session, reaching $77.78. About 748,255 shares traded or 37.32% up from the average. Franco-Nevada Corporation (NYSE:FNV) has risen 12.51% since December 7, 2016 and is uptrending. It has underperformed by 4.19% the S&P500.

Analysts await Franco-Nevada Corporation (NYSE:FNV) to report earnings on March, 28. They expect $0.27 earnings per share, up 12.50 % or $0.03 from last year’s $0.24 per share. FNV’s profit will be $50.55 million for 72.02 P/E if the $0.27 EPS becomes a reality. After $0.30 actual earnings per share reported by Franco-Nevada Corporation for the previous quarter, Wall Street now forecasts -10.00 % negative EPS growth.

Franco-Nevada Corporation (NYSE:FNV) Ratings Coverage

Among 16 analysts covering Franco-Nevada Corp (NYSE:FNV), 7 have Buy rating, 1 Sell and 8 Hold. Therefore 44% are positive. Franco-Nevada Corp had 35 analyst reports since August 11, 2015 according to SRatingsIntel. TD Securities maintained it with “Buy” rating and $64 target in Wednesday, August 12 report. Zacks downgraded Franco-Nevada Corporation (NYSE:FNV) on Monday, August 31 to “Hold” rating. The rating was maintained by TD Securities on Thursday, October 19 with “Buy”. On Tuesday, November 10 the stock rating was maintained by Barclays Capital with “Underweight”. The rating was maintained by Barclays Capital with “Equal-Weight” on Thursday, July 13. As per Monday, September 14, the company rating was initiated by BMO Capital Markets. On Wednesday, January 20 the stock rating was initiated by JP Morgan with “Neutral”. The company was downgraded on Tuesday, December 20 by Deutsche Bank. The stock has “Neutral” rating by Credit Suisse on Thursday, February 4. The company was maintained on Tuesday, October 6 by RBC Capital Markets.

More important recent Franco-Nevada Corporation (NYSE:FNV) news were published by: which released: “Bloomberg: Glencore near creation of new mining royalty company” on November 14, 2017, also published article titled: “Franco-Nevada Powers Up on Gold, Energy Growth”, published: “Ex-Dividend Reminder: Praxair, Mosaic and Franco-Nevada” on December 04, 2017. More interesting news about Franco-Nevada Corporation (NYSE:FNV) was released by: and their article: “4 Things Franco-Nevada Management Wants You to Know” with publication date: November 17, 2017.

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