Zacks Investment Research Upgrades Fresnillo (OTCMKTS:FNLPF) to “Buy”

Fresnillo (OTCMKTS:FNLPF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday, Zacks.com reports. The firm presently has a $9.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.76% from the company’s current price.

According to Zacks, “Fresnillo plc is silver and gold mining and exploration company. It also produces lead and zinc concentrates, silver precipitates, gold and silver dore bars and leases mining equipment. The Company has properties in Mexico. Fresnillo also holds interests in properties located in Zacatecas, Durango and Sonora. Fresnillo plc is headquartered in Mexico. “

A number of other brokerages have also recently commented on FNLPF. HSBC cut shares of Fresnillo from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. UBS Group cut shares of Fresnillo from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Macquarie upgraded shares of Fresnillo from an “underperform” rating to an “outperform” rating and set a $9.00 price target on the stock in a research note on Friday, September 13th. Goldman Sachs Group cut shares of Fresnillo from a “conviction-buy” rating to a “neutral” rating in a research note on Friday. Finally, Royal Bank of Canada cut shares of Fresnillo from a “top pick” rating to a “sector perform” rating in a research note on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $9.00.

FNLPF traded up $0.27 during midday trading on Monday, reaching $8.20. The company had a trading volume of 1,300 shares, compared to its average volume of 9,657. The stock has a market cap of $5.83 billion, a PE ratio of 17.83 and a beta of 0.02. Fresnillo has a 12-month low of $7.01 and a 12-month high of $13.76. The business has a 50-day moving average price of $8.62 and a two-hundred day moving average price of $9.51.

Fresnillo Company Profile

Fresnillo plc mines, develops, and produces non-ferrous minerals in Mexico. It primarily explores for silver, gold, lead, and zinc concentrates. The company's operating mines include the Fresnillo, Saucito, Ciénega, Herradura, Noche Buena, and San Julián; development projects comprise the Pyrites Plant, and second line of the DLP at Herradura; and advanced exploration projects consist of the Orisyvo, Juanicipio, Las Casas Rosario and Cluster Cebollitas, and Centauro Deep, as well as various other long term exploration prospects.

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Analyst Recommendations for Fresnillo (OTCMKTS:FNLPF)

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