Fresnillo (LON:FRES) Stock Price Down 12.2% – Here’s Why

Shares of Fresnillo plc (LON:FRES) were down 12.2% during trading on Wednesday . The stock traded as low as GBX 2,000 ($26.74) and last traded at GBX 2,114 ($28.27). Approximately 2,780,052 shares traded hands during mid-day trading, a decline of 14% from the average daily volume of 3,248,329 shares. The stock had previously closed at GBX 2,408 ($32.20).

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FRES. Canaccord Genuity Group increased their target price on shares of Fresnillo from GBX 980 to GBX 2,440 and gave the company a “hold” rating in a research report on Friday, October 17th. Berenberg Bank upped their price objective on Fresnillo from GBX 1,700 to GBX 2,600 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Royal Bank Of Canada increased their price objective on Fresnillo from GBX 1,200 to GBX 1,400 and gave the company a “sector perform” rating in a report on Monday, August 11th. JPMorgan Chase & Co. raised their target price on Fresnillo from GBX 1,850 to GBX 2,100 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Finally, Citigroup upped their price target on Fresnillo from GBX 1,300 to GBX 1,700 and gave the company a “buy” rating in a research report on Thursday, July 10th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of GBX 2,048.

Fresnillo Trading Up 1.4%

The company has a market cap of £15.80 billion, a P/E ratio of 34.69, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. The company has a quick ratio of 3.28, a current ratio of 5.88 and a debt-to-equity ratio of 23.55. The firm’s 50-day moving average price is GBX 2,124.68 and its 200-day moving average price is GBX 1,559.36.

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.