Fresnillo (LON:FRES) Stock Price Down 5.6% – Time to Sell?

Shares of Fresnillo plc (LON:FRES) dropped 5.6% on Friday . The stock traded as low as GBX 1,007 ($13.36) and last traded at GBX 1,021 ($13.55). Approximately 1,248,325 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 3,374,354 shares. The stock had previously closed at GBX 1,081 ($14.34).

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FRES. Royal Bank of Canada reissued a “sector perform” rating and issued a GBX 880 ($11.68) price objective on shares of Fresnillo in a research note on Thursday, March 13th. Canaccord Genuity Group boosted their price target on Fresnillo from GBX 760 ($10.08) to GBX 805 ($10.68) and gave the company a “hold” rating in a research note on Tuesday, February 25th. Finally, Berenberg Bank raised shares of Fresnillo to a “buy” rating and raised their price objective for the stock from GBX 840 ($11.15) to GBX 1,020 ($13.53) in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Fresnillo has an average rating of “Hold” and an average target price of GBX 824 ($10.93).

Fresnillo Price Performance

The business has a 50-day moving average of GBX 872.70 and a 200 day moving average of GBX 740.58. The company has a current ratio of 5.88, a quick ratio of 3.28 and a debt-to-equity ratio of 23.55. The firm has a market capitalization of £9.43 billion, a P/E ratio of 38.05, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15.

Fresnillo Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, April 17th will be issued a dividend of $0.68 per share. This is an increase from Fresnillo’s previous dividend of $0.06. The ex-dividend date of this dividend is Thursday, April 17th. This represents a dividend yield of 5.49%. Fresnillo’s payout ratio is currently 29.82%.

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.