What Will Happen to Franco Nevada Corp Next? The Stock Just Gapped Up

 What Will Happen to Franco Nevada Corp Next? The Stock Just Gapped Up

The stock of Franco Nevada Corp (TSE:FNV) gapped up by $0.55 today and has $131.23 target or 45.00% above today’s $90.50 share price. The 8 months technical chart setup indicates low risk for the $16.43 billion company. The gap was reported on Nov, 1 by Barchart.com. If the $131.23 price target is reached, the company will be worth $7.39B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 355,995 shares traded hands. Franco Nevada Corp (TSE:FNV) has risen 9.56% since March 28, 2016 and is uptrending. It has outperformed by 6.55% the S&P500.

Franco Nevada Corp (TSE:FNV) Ratings Coverage

Out of 4 analysts covering Franco-Nevada Corp (TSE:FNV), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $110 is the highest target while $54 is the lowest. The $84.17 average target is -6.99% below today’s ($90.5) stock price. Franco-Nevada Corp has been the topic of 11 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Thursday, November 12 by Canaccord Genuity. The firm earned “Hold” rating on Thursday, August 11 by TD Securities. The rating was upgraded by National Bank Canada to “Outperform” on Thursday, October 15.

More important recent Franco Nevada Corp (TSE:FNV) news were published by: Bloomberg.com which released: “Franco-Nevada Shares Jump as Dilution Forgiven in Gold Euphoria” on February 10, 2016, also Fool.com published article titled: “Why Franco-Nevada Corporation’s Stock Jumped 32.5% in February”, Profitconfidential.com published: “Franco Nevada Corp Could Be the Top Gold Stock for 2016…and Beyond” on May 27, 2016. More interesting news about Franco Nevada Corp (TSE:FNV) was released by: Forbes.com and their article: “Franco-Nevada Enters Oversold Territory (FNV)” with publication date: October 04, 2016.

Franco-Nevada Corporation is a gold-focused royalty and stream company. The company has a market cap of $16.43 billion. The Company’s additional interests are in platinum group metals and other resource assets. It has a 216.54 P/E ratio. The Firm operates in the segment of resource sector royalty/stream acquisitions and management activities.

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