Fresnillo (LON:FRES) Stock Price Down 5.6% – Here’s What Happened

Shares of Fresnillo plc (LON:FRES) traded down 5.6% on Thursday . The stock traded as low as GBX 1,007 ($13.36) and last traded at GBX 1,021 ($13.55). 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 ($14.34).

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FRES. Royal Bank of Canada restated a “sector perform” rating and issued a GBX 880 ($11.68) price target on shares of Fresnillo in a report on Thursday, March 13th. Canaccord Genuity Group upped their price target on shares of Fresnillo from GBX 760 ($10.08) to GBX 805 ($10.68) and gave the company a “hold” rating in a report on Tuesday, February 25th. Finally, Berenberg Bank upgraded 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 report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of GBX 824 ($10.93).

Fresnillo Trading Down 5.6 %

The stock has a market cap 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 business has a 50-day simple moving average of GBX 868.32 and a two-hundred day simple moving average of GBX 737.67. The company has a debt-to-equity ratio of 23.55, a quick ratio of 3.28 and a current ratio of 5.88.

Fresnillo Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, April 17th will be issued a dividend of $0.68 per share. This is a boost from Fresnillo’s previous dividend of $0.06. The ex-dividend date is Thursday, April 17th. This represents a yield of 5.49%. 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.