Franco-Nevada Corp (FNV) Catches Eye: Stock Jumps 6.5%
Franco-Nevada Corporation FNV was a big mover last session, as the company saw its shares rise above 6% on the day. The upside was driven by the company’s announcement that based on strong demand it has increased the size of its previously announced public offering to 16,720,000 common shares at $47.85 per common share. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $42.46–$53.17 in the past one-month time frame.
In the last 30 days, the company has seen two downward estimate revisions and the Zacks Consensus Estimate also moved lower, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent move higher can last.
Franco-Nevada Corp. currently carries a Zacks Rank #3 (Hold), while its Earnings ESP is positive.
A better-ranked Gold mining stock is AngloGold Ashanti Ltd. AU, which holds a Zacks Rank #2 (Buy).
Is FNV going up? Or down? Predict to see what others think: Up or Down
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