Franco-Nevada Soars 4.47% to Record High on Gold Price Surge

Franco-nevada(FNV) surged to a record high today, with an intraday gain of 4.47%.

Franco-nevada's stock price has been positively influenced by several key factors. Analysts from various investment firms have shown confidence in the company by adjusting their ratings and price targets. Wainwright raised the stock price target twice, first to $165 and then to $180, while maintaining a Buy rating. Similarly, UBS Group increased their price objective from $170.00 to $190.00 and issued a "buy" rating. BMO Capital Markets also upgraded Franco-Nevada to a "strong-buy" rating.

The surge in gold prices to record highs has also had a significant impact on Franco-Nevada's stock. The rise in gold prices, driven by distrust in U.S. financial assets and inflation fears, has likely contributed to the company's strong performance. This positive sentiment and growth potential have been reflected in Franco-Nevada hitting a new 52-week high of $240.42, indicating strong market performance and investor interest.