Canaccord Genuity Group Forecasts Strong Price Appreciation for Fresnillo (LON:FRES) Stock

Fresnillo (LON:FRES) had its target price lifted by stock analysts at Canaccord Genuity Group from GBX 980 to GBX 2,440 in a research note issued on Friday, Marketbeat.com reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 3.74% from the stock’s previous close.

A number of other analysts have also recently issued reports on FRES. Berenberg Bank raised their target price on shares of Fresnillo from GBX 1,700 to GBX 2,600 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. JPMorgan Chase & Co. increased their price target on shares of Fresnillo from GBX 1,850 to GBX 2,100 and gave the company an “overweight” rating in a report on Thursday, August 7th. Citigroup boosted their price objective on Fresnillo from GBX 1,300 to GBX 1,700 and gave the stock a “buy” rating in a report on Thursday, July 10th. Finally, Royal Bank Of Canada upped their target price on Fresnillo from GBX 1,200 to GBX 1,400 and gave the company a “sector perform” rating in a research report on Monday, August 11th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Fresnillo presently has a consensus rating of “Moderate Buy” and an average price target of GBX 2,048.

Fresnillo Stock Down 10.5%

FRES opened at GBX 2,352 on Friday. The stock’s fifty day simple moving average is GBX 2,103.80 and its 200 day simple moving average is GBX 1,540.06. Fresnillo has a 1-year low of GBX 609.50 and a 1-year high of GBX 2,650. The stock has a market cap of £17.33 billion, a PE ratio of 3,805.83, 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.

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.