Fresnillo (LON:FRES) Stock Price Down 5.6% – Time to Sell?

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on FRES shares. Canaccord Genuity Group boosted their price target on shares of Fresnillo from GBX 760 ($10.08) to GBX 805 ($10.68) and gave the stock a “hold” rating in a report on Tuesday, February 25th. Berenberg Bank upgraded Fresnillo to a “buy” rating and increased their price objective for the company from GBX 840 ($11.15) to GBX 1,020 ($13.53) in a report on Thursday, March 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a GBX 880 ($11.68) target price on shares of Fresnillo in a research note on Thursday, March 13th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fresnillo has an average rating of “Hold” and an average target price of GBX 824 ($10.93).

Fresnillo Price Performance

The firm has a market cap of £9.43 billion, a price-to-earnings ratio of 38.05, a PEG ratio of -1.58 and a beta of 0.15. The company has a debt-to-equity ratio of 23.55, a current ratio of 5.88 and a quick ratio of 3.28. The stock has a 50-day moving average price of GBX 872.70 and a 200 day moving average price of GBX 740.58.

Fresnillo Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, April 17th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a yield of 5.49%. 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.