A Reversal for Franco-Nevada Corporation (FNV) Is Near. The Formed Double Top Pattern

December 7, 2017 - By Michael Collier

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 Finviz.com. 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 8, 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 EPS, 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 EPS 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. The firm has “Outperform” rating given on Tuesday, October 6 by RBC Capital Markets. JP Morgan maintained the stock with “Neutral” rating in Monday, March 14 report. The stock has “Buy” rating by TD Securities on Wednesday, August 12. On Thursday, October 13 the stock rating was downgraded by National Bank Canada to “Sector Perform”. The firm has “Neutral” rating given on Thursday, February 9 by Goldman Sachs. The stock of Franco-Nevada Corporation (NYSE:FNV) earned “Hold” rating by Zacks on Monday, August 31. The stock of Franco-Nevada Corporation (NYSE:FNV) earned “Buy” rating by Desjardins Securities on Wednesday, October 26. As per Thursday, January 14, the company rating was upgraded by Barclays Capital. The stock has “Buy” rating by Canaccord Genuity on Tuesday, August 11. Deutsche Bank initiated the shares of FNV in report on Friday, December 11 with “Hold” rating.

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

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