Fresnillo (OTCMKTS:FNLPF) Shares Gap Down – Here’s Why

Fresnillo PLC (OTCMKTS:FNLPF) shares gapped down before the market opened on Tuesday. The stock had previously closed at $37.67, but opened at $35.81. Fresnillo shares last traded at $36.31, with a volume of 1,141 shares.

Analyst Ratings Changes

Several equities research analysts have recently commented on FNLPF shares. Zacks Research downgraded shares of Fresnillo from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Barclays downgraded Fresnillo from an “equal weight” rating to a “strong sell” rating in a research note on Thursday, September 3rd. Scotiabank raised Fresnillo from a “strong sell” rating to a “hold” rating in a report on Thursday, July 16th. Finally, Jefferies Financial Group initiated coverage on Fresnillo in a research note on Monday, August 3rd. They issued a “hold” rating for the company. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Fresnillo Price Performance

The company has a quick ratio of 5.59, a current ratio of 6.35 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average price is $39.21 and its 200 day moving average price is $41.66.

About Fresnillo

Fresnillo plc (OTCMKTS:FNLPF) is a Mexico-based precious metals mining company focused on the exploration, development and production of silver and gold. The company is one of the world’s significant primary silver producers and also produces gold, lead and zinc as by-products of its mining operations.

Fresnillo operates a portfolio of mines and processing facilities in Mexico, including the Fresnillo, Saucito, Ciénega, Herradura, San Julián and Noche Buena mines. It also holds a majority interest in the Juanicipio silver-gold mine, which is operated in partnership with MAG Silver.