Fresnillo (LON:FRES) Trading 6.6% Higher After Analyst Upgrade

Shares of Fresnillo plc (LON:FRES) traded up 6.6% during mid-day trading on Wednesday after Berenberg Bank raised their price target on the stock from GBX 1,620 to GBX 1,700. Berenberg Bank currently has a buy rating on the stock. Fresnillo traded as high as GBX 1,655 ($22.11) and last traded at GBX 1,620.32 ($21.64). 2,149,009 shares changed hands during trading, a decline of 15% from the average session volume of 2,530,482 shares. The stock had previously closed at GBX 1,520 ($20.30).

FRES has been the topic of several other reports. Citigroup lifted their price target 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. Canaccord Genuity Group raised their price objective on Fresnillo from GBX 805 ($10.75) to GBX 980 ($13.09) and gave the stock a “hold” rating in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of Fresnillo in a research note on Thursday, July 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of GBX 1,422 ($19.00).

Fresnillo Price Performance

The stock has a fifty day moving average price of GBX 1,419.86 and a 200-day moving average price of GBX 1,076.02. The company has a market cap of £14.97 billion, a PE ratio of 60.39, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. The company has a debt-to-equity ratio of 23.55, a current ratio of 5.88 and a quick ratio of 3.28.

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.