Fresnillo (LON:FRES) Shares Down 3% – What’s Next?

Fresnillo plc (LON:FRES)’s stock price was down 3% on Thursday. The company traded as low as GBX 2,407 and last traded at GBX 2,444. 1,227,901 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 15,427,090 shares. The stock had previously closed at GBX 2,519.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and set a GBX 3,200 target price on shares of Fresnillo in a report on Monday, September 14th. Berenberg Bank reissued a “hold” rating and set a GBX 2,800 target price on shares of Fresnillo in a research report on Thursday, October 22nd. Jefferies Financial Group restated a “hold” rating and issued a GBX 2,700 price target on shares of Fresnillo in a report on Tuesday, August 4th. JPMorgan Chase & Co. lowered shares of Fresnillo to an “overweight” rating and reduced their price target for the company from GBX 5,400 to GBX 4,700 in a report on Thursday, July 16th. Finally, Canaccord Genuity Group lowered their price target on shares of Fresnillo from GBX 2,900 to GBX 2,700 and set a “hold” rating for the company in a research report on Thursday, October 22nd. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Fresnillo presently has an average rating of “Hold” and an average price target of GBX 3,516.67.

Fresnillo Stock Performance

The business has a fifty day simple moving average of GBX 2,699.16 and a two-hundred day simple moving average of GBX 3,120.94. The company has a debt-to-equity ratio of 16.67, a current ratio of 6.35 and a quick ratio of 3.28. The company has a market cap of £18.01 billion, a PE ratio of 7.90, a price-to-earnings-growth ratio of -1.58 and a beta of 0.78.

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.