Fresnillo (LON:FRES) Stock Price Down 5.6% – Time to Sell?

Fresnillo plc (LON:FRES)’s stock price dropped 5.6% 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 changed hands during 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 Upgrades and Downgrades

Several analysts have commented on FRES shares. Berenberg Bank upgraded shares of Fresnillo to a “buy” rating and boosted their price target 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 set a GBX 880 ($11.70) price target on shares of Fresnillo in a report on Thursday, March 13th. Finally, Canaccord Genuity Group upped their price objective on 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of GBX 824 ($10.96).

Fresnillo Price Performance

The firm has a 50 day moving average price of GBX 877.31 and a 200-day moving average price of GBX 744.33. The firm has a market capitalization of £9.43 billion, a P/E ratio of 38.05, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. The company has a current ratio of 5.88, a quick ratio of 3.28 and a debt-to-equity ratio of 23.55.

Fresnillo Increases Dividend

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