Fresnillo (LON:FRES) Trading Up 6.6% Following Analyst Upgrade

Fresnillo plc (LON:FRES) shares were up 6.6% during 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). Approximately 2,149,009 shares were traded during trading, a decline of 15% from the average daily volume of 2,530,482 shares. The stock had previously closed at GBX 1,520 ($20.30).

A number of other research analysts have also recently commented on FRES. Canaccord Genuity Group raised their price target on shares of 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. Citigroup raised their price target on shares of Fresnillo from GBX 1,300 ($17.37) to GBX 1,700 ($22.71) and gave the stock a “buy” rating in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of Fresnillo in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of GBX 1,422 ($19.00).

Fresnillo Stock Up 6.6%

The business’s 50 day moving average price is GBX 1,419.86 and its 200-day moving average price 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 company has a market cap of £14.97 billion, a P/E ratio of 60.39, a PEG ratio of -1.58 and a beta of 0.15.

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.