Fresnillo (LON:FRES) Shares Down 5.6% – Here’s What Happened

Fresnillo plc (LON:FRES)’s share price fell 5.6% on Friday . The stock traded as low as GBX 1,007 ($13.39) and last traded at GBX 1,021 ($13.58). 1,248,325 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 3,374,354 shares. The stock had previously closed at GBX 1,081 ($14.37).

Analysts Set New Price Targets

A number of brokerages recently weighed in on FRES. Berenberg Bank raised shares of Fresnillo to a “buy” rating and upped their target price for the stock from GBX 840 ($11.17) to GBX 1,020 ($13.56) in a research note on Thursday, March 6th. Royal Bank of Canada restated a “sector perform” rating and issued a GBX 880 ($11.70) price target on shares of Fresnillo in a research note on Thursday, March 13th. Finally, Canaccord Genuity Group boosted their target price on shares of Fresnillo from GBX 760 ($10.11) to GBX 805 ($10.70) and gave the stock a “hold” rating in a report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Fresnillo currently has a consensus rating of “Hold” and a consensus price target of GBX 824 ($10.96).

Fresnillo Trading Down 5.6 %

The business has a fifty day moving average price of GBX 877.31 and a 200-day moving average price of GBX 744.33. 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 company has a market cap of £9.43 billion, a P/E ratio of 38.05, a PEG ratio of -1.58 and a beta of 0.15.

Fresnillo Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, April 17th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This is an increase from Fresnillo’s previous dividend of $0.06. This represents a yield of 5.49%. Fresnillo’s payout ratio is 29.82%.

Fresnillo Company Profile

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.