Fresnillo (LON:FRES) Stock Price Down 5.6% – Here’s Why

Shares of Fresnillo plc (LON:FRES) dropped 5.6% during mid-day trading on Friday . The company traded as low as GBX 1,007 ($13.39) and last traded at GBX 1,021 ($13.58). Approximately 1,248,325 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 3,374,354 shares. The stock had previously closed at GBX 1,081 ($14.37).

Analyst Ratings Changes

Several analysts have weighed in on the company. Berenberg Bank raised Fresnillo to a “buy” rating and lifted their price objective for the company from GBX 840 ($11.17) to GBX 1,020 ($13.56) in a research report on Thursday, March 6th. Royal Bank of Canada restated a “sector perform” rating and issued a GBX 880 ($11.70) target price on shares of Fresnillo in a research note on Thursday, March 13th. Finally, Canaccord Genuity Group upped their price target on Fresnillo from GBX 760 ($10.11) to GBX 805 ($10.70) and gave the stock a “hold” rating in a research note on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of GBX 824 ($10.96).

Fresnillo Stock Down 5.6 %

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’s fifty day moving average price is GBX 877.31 and its 200-day moving average price is GBX 744.33. The stock has a market capitalization of £9.43 billion, a PE ratio of 38.05, 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. Shareholders of record on Thursday, April 17th will be paid a dividend of $0.68 per share. This is a boost from Fresnillo’s previous dividend of $0.06. The ex-dividend date of this dividend is Thursday, April 17th. This represents a yield of 5.49%. Fresnillo’s payout ratio is presently 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.