Long Position on FNV @ $139.50 on 7/1/2020 (Momentum)

Franco-Nevada Corporation (FNV) operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, Europe, and Africa, and internationally.

It operates through two segment, Mining and Energy.

The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and energy comprising oil, gas, and natural gas liquids.

Its business model provides investors with gold price and exploration optionality while limiting exposure to many of the risks of operating companies. Franco-Nevada is debt free and uses its free cash flow to expand its portfolio and pay dividends.

Shares are heading higher in an upward trading channel. The lower boundary of the said channel coincides with the stock's 50-day moving average. Shares are expected to head higher as investors look for ways to protect their portfolios against the current uncertaintity due to Covid-19 and the upcoming elections.

Last Trade: $139.50

Stop Loss: $132.50

Trading Range: $77.18 - $152.70

Target Price: $153.45

Updates

7/21/2020 1:37:27 PM

FNV closed at $156.50

Position closed on 7/21/2020 at price of $156.50 with a 12.19% gain in 20 days.

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