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

Shares of Fresnillo plc (LON:FRES) were down 5.6% during 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).

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FRES shares. Canaccord Genuity Group boosted their price target on shares of Fresnillo from GBX 760 ($10.11) to GBX 805 ($10.70) and gave the company a “hold” rating in a report on Tuesday, February 25th. Berenberg Bank upgraded Fresnillo to a “buy” rating and increased their price target for the stock from GBX 840 ($11.17) to GBX 1,020 ($13.56) in a report on Thursday, March 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a GBX 880 ($11.70) price objective on shares of Fresnillo in a report on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Fresnillo currently has an average rating of “Hold” and a consensus target price of GBX 824 ($10.96).

Fresnillo Stock Performance

The stock has a 50 day simple moving average of GBX 877.31 and a 200 day simple moving average of GBX 744.33. The stock has a market cap 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 disclosed a dividend, which will be paid on Friday, May 30th. Shareholders 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. This represents a yield of 5.49%. The ex-dividend date is Thursday, April 17th. Fresnillo’s payout ratio is currently 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.