Fresnillo (LON:FRES) Trading Down 5.6% – What’s Next?

Fresnillo plc (LON:FRES)’s stock price traded down 5.6% on Thursday . The stock traded as low as GBX 1,007 ($13.33) and last traded at GBX 1,021 ($13.51). 1,248,325 shares were traded 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 ($14.31).

Analysts Set New Price Targets

FRES has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a GBX 880 ($11.65) price target on shares of Fresnillo in a report on Thursday, March 13th. Canaccord Genuity Group raised their target price on shares of Fresnillo from GBX 760 ($10.06) to GBX 805 ($10.66) and gave the stock a “hold” rating in a report on Tuesday, February 25th. Finally, Berenberg Bank upgraded Fresnillo to a “buy” rating and increased their price target for the stock from GBX 840 ($11.12) to GBX 1,020 ($13.50) in a research report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of GBX 824 ($10.91).

Fresnillo Stock Performance

The company has a quick ratio of 3.28, a current ratio of 5.88 and a debt-to-equity ratio of 23.55. The firm has a market capitalization of £9.43 billion, a PE ratio of 38.05, a P/E/G ratio of -1.58 and a beta of 0.15. The firm’s 50-day moving average price is GBX 868.32 and its two-hundred day moving average price is GBX 737.67.

Fresnillo Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, April 17th will be given a $0.68 dividend. This is a positive change from Fresnillo’s previous dividend of $0.06. This represents a yield of 5.49%. The ex-dividend date is Thursday, April 17th. Fresnillo’s dividend payout ratio is presently 29.82%.

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.