Berenberg Bank Forecasts Strong Price Appreciation for Fresnillo (LON:FRES) Stock

Fresnillo (LON:FRES) had its price target boosted by equities researchers at Berenberg Bank from GBX 1,620 ($21.64) to GBX 1,700 ($22.71) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s target price points to a potential upside of 4.92% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Canaccord Genuity Group lifted their target price on Fresnillo from GBX 805 ($10.75) to GBX 980 ($13.09) and gave the company a “hold” rating in a research report on Thursday, April 24th. Citigroup lifted their price objective on Fresnillo from GBX 1,300 ($17.37) to GBX 1,700 ($22.71) and gave the company a “buy” rating in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Fresnillo in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of GBX 1,422 ($19.00).

Fresnillo Trading Up 6.6%

Shares of Fresnillo stock opened at GBX 1,620.32 ($21.64) on Tuesday. Fresnillo has a 1-year low of GBX 502 ($6.71) and a 1-year high of GBX 1,655 ($22.11). The company’s fifty day simple moving average is GBX 1,419.86 and its 200-day simple moving average is GBX 1,076.02. The company has a debt-to-equity ratio of 23.55, a current ratio of 5.88 and a quick ratio of 3.28. The stock has a market capitalization of £14.97 billion, a PE ratio of 60.39, a P/E/G ratio of -1.58 and a beta of 0.15.

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.