Fresnillo (LON:FRES) Stock Price Target Cut by Canaccord Genuity Group

Key Points

• Canaccord Genuity Group cut Fresnillo’s price target from GBX 2,900 to GBX 2,700 while maintaining a “hold” rating, implying 6.93% potential upside from the previous close.
• Analyst sentiment remains cautious: two firms rate Fresnillo a “buy” and four rate it a “hold,” producing an overall “hold” consensus and an average target price of GBX 3,516.67.
• Fresnillo shares opened at GBX 2,525 and remain well below their 52-week high of GBX 4,472; the company has a market capitalization of approximately £18.61 billion.

Fresnillo (LON:FRES - Get Free Report) had its price objective decreased by investment analysts at Canaccord Genuity Group from GBX 2,900 to GBX 2,700 in a research note issued to investors on Thursday, Digital Look reports. The brokerage presently has a "hold" rating on the stock. Canaccord Genuity Group's price objective would suggest a potential upside of 6.93% from the company's previous close.

A number of other research analysts have also commented on FRES. JPMorgan Chase & Co. lowered shares of Fresnillo to an "overweight" rating and decreased their price target for the company from GBX 5,400 to GBX 4,700 in a research note on Thursday, July 16th. Berenberg Bank restated a "hold" rating and set a GBX 2,800 price objective on shares of Fresnillo in a research report on Thursday. Jefferies Financial Group restated a "hold" rating and set a GBX 2,700 price objective on shares of Fresnillo in a research report on Tuesday, August 4th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a GBX 3,200 price objective on shares of Fresnillo in a report on Monday, September 14th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of GBX 3,516.67.

Fresnillo Stock Performance

LON FRES opened at GBX 2,525 on Thursday. The firm has a 50-day moving average of GBX 2,911.37 and a 200-day moving average of GBX 3,017.70. The company has a debt-to-equity ratio of 16.67, a quick ratio of 3.28 and a current ratio of 6.35. The stock has a market cap of £18.61 billion, a PE ratio of 8.16, a P/E/G ratio of -1.58 and a beta of 0.81. Fresnillo has a 52-week low of GBX 2,012 and a 52-week high of GBX 4,472.

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.

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