Fresnillo (LON:FRES) Trading Down 5.6% – Here’s Why

Fresnillo plc (LON:FRES) fell 5.6% during mid-day trading on Friday . The stock traded as low as GBX 1,007 ($13.39) and last traded at GBX 1,021 ($13.58). 1,248,325 shares traded hands during trading, a decline of 63% from the average session volume of 3,374,354 shares. The stock had previously closed at GBX 1,081 ($14.37).

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a GBX 880 ($11.70) price target on shares of Fresnillo in a research note on Thursday, March 13th. Berenberg Bank upgraded shares of Fresnillo to a “buy” rating and increased their price objective for the company from GBX 840 ($11.17) to GBX 1,020 ($13.56) in a report on Thursday, March 6th. Finally, Canaccord Genuity Group upped their target price on shares of Fresnillo from GBX 760 ($10.11) to GBX 805 ($10.70) and gave the company a “hold” rating in a research report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Fresnillo has an average rating of “Hold” and a consensus target price of GBX 824 ($10.96).

Fresnillo Stock Performance

The firm has a market capitalization of £9.43 billion, a price-to-earnings ratio of 38.05, a P/E/G ratio of -1.58 and a beta of 0.15. The stock’s fifty day moving average is GBX 877.31 and its two-hundred day moving average is GBX 744.33. The company has a quick ratio of 3.28, a current ratio of 5.88 and a debt-to-equity ratio of 23.55.

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 represents a dividend yield of 5.49%. The ex-dividend date is Thursday, April 17th. This is a boost from Fresnillo’s previous dividend of $0.06. 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.