Fresnillo (LON:FRES) Stock Price Down 3% – What’s Next?

Fresnillo plc (LON:FRES) traded down 3% during trading on Thursday. The company traded as low as GBX 2,407 and last traded at GBX 2,444. Approximately 1,227,901 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 15,427,090 shares. The stock had previously closed at GBX 2,519.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 2,800 price target on shares of Fresnillo in a research note on Thursday, October 22nd. Canaccord Genuity Group lowered their price objective on shares of Fresnillo from GBX 2,900 to GBX 2,700 and set a “hold” rating for the company in a research report on Thursday, October 22nd. JPMorgan Chase & Co. cut shares of Fresnillo to an “overweight” rating and lowered their price objective for the company from GBX 5,400 to GBX 4,700 in a research report on Thursday, July 16th. Jefferies Financial Group restated a “hold” rating and issued a GBX 2,700 target price on shares of Fresnillo in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a GBX 3,200 target price on shares of Fresnillo in a research report on Monday, September 14th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of GBX 3,516.67.

Fresnillo Price Performance

The firm has a fifty day simple moving average of GBX 2,699.16 and a 200 day simple moving average of GBX 3,120.94. The company has a market capitalization of £18.01 billion, a PE ratio of 7.90, a P/E/G ratio of -1.58 and a beta of 0.78. The company has a debt-to-equity ratio of 16.67, a quick ratio of 3.28 and a current ratio of 6.35.

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.