Fresnillo (LON:FRES) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Fresnillo plc (LON:FRES)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 2,916.31 and traded as high as GBX 3,794. Fresnillo shares last traded at GBX 3,774, with a volume of 1,734,152 shares trading hands.

Wall Street Analyst Weigh In

FRES has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of Fresnillo from GBX 4,000 to GBX 4,600 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Berenberg Bank cut shares of Fresnillo to a “hold” rating and increased their price target for the stock from GBX 3,400 to GBX 3,800 in a report on Thursday, February 5th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Fresnillo from GBX 4,700 to GBX 4,500 and set an “overweight” rating for the company in a research report on Monday, February 2nd. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of GBX 3,348.

Fresnillo Stock Down 1.8%

The company has a debt-to-equity ratio of 18.37, a current ratio of 4.35 and a quick ratio of 3.28. The company has a market capitalization of £26.43 billion, a price-to-earnings ratio of 58.04, a price-to-earnings-growth ratio of -1.58 and a beta of 0.60. The firm’s 50-day simple moving average is GBX 3,829.47 and its two-hundred day simple moving average is GBX 2,921.47.

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.