Fresnillo (LON:FRES) Sets New 12-Month High – Here’s Why

Fresnillo plc (LON:FRES) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 1,568 ($20.84) and last traded at GBX 1,552 ($20.63), with a volume of 5977057 shares trading hands. The stock had previously closed at GBX 1,434 ($19.06).

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Canaccord Genuity Group boosted their price objective on Fresnillo from GBX 805 ($10.70) to GBX 980 ($13.02) and gave the company a “hold” rating in a research report on Thursday, April 24th. Berenberg Bank reiterated a “buy” rating and issued a GBX 1,620 ($21.53) price objective on shares of Fresnillo in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Fresnillo in a research report on Thursday, July 24th. Finally, Citigroup boosted their price objective on Fresnillo from GBX 1,300 ($17.28) to GBX 1,700 ($22.59) and gave the company a “buy” rating in a research report on Thursday, July 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Fresnillo has an average rating of “Moderate Buy” and a consensus target price of GBX 1,406 ($18.69).

Fresnillo Price Performance

The stock has a market cap of £13.98 billion, a P/E ratio of 56.43, a PEG ratio of -1.58 and a beta of 0.15. The company has a 50 day simple moving average of GBX 1,401.80 and a 200 day simple moving average of GBX 1,069.10. The company has a current ratio of 5.88, a quick ratio of 3.28 and a debt-to-equity ratio of 23.55.

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.