Fresnillo (LON:FRES) Reaches New 1-Year High – Here’s What Happened

Fresnillo plc (LON:FRES) shares reached a new 52-week high during trading on Friday . The stock traded as high as GBX 975 ($12.76) and last traded at GBX 973.50 ($12.74), with a volume of 5928453 shares changing hands. The stock had previously closed at GBX 923 ($12.08).

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Canaccord Genuity Group lifted their target price on Fresnillo from GBX 760 ($9.95) to GBX 805 ($10.54) and gave the company a “hold” rating in a research note on Tuesday, February 25th. Royal Bank of Canada restated a “sector perform” rating and set a GBX 880 ($11.52) price objective on shares of Fresnillo in a research note on Thursday, March 13th. Finally, Berenberg Bank upgraded shares of Fresnillo to a “buy” rating and increased their target price for the company from GBX 840 ($10.99) to GBX 1,020 ($13.35) in a research report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of GBX 824 ($10.79).

Fresnillo Stock Up 6.5 %

The company has a quick ratio of 3.28, a current ratio of 5.88 and a debt-to-equity ratio of 23.55. The business’s 50 day simple moving average is GBX 850.55 and its 200 day simple moving average is GBX 729.05. The company has a market capitalization of £9.08 billion, a PE ratio of 36.63, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15.

Fresnillo Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, April 17th will be given a dividend of $0.68 per share. This is an increase from Fresnillo’s previous dividend of $0.06. The ex-dividend date is Thursday, April 17th. This represents a dividend yield of 5.49%. Fresnillo’s dividend payout ratio is currently 29.82%.

About Fresnillo

Fresnillo plc is the world’s largest silver producer and Mexico’s largest gold producer, listed on the London and Mexican stock exchanges.
The Group seeks to create value for stakeholders across precious metal cycles, focusing on high-potential silver and gold projects that can be developed into low cost, world-class mines.
Following a decade of consistent and successful progress, the Group is now focused on consolidating its growth and advancing its pipeline in order to deliver further growth in the years ahead.