Berenberg Bank Issues Positive Forecast for Fresnillo (LON:FRES) Stock Price

Key Points

• Berenberg Bank raised its price target for **Fresnillo** stock from GBX **1,620** to GBX **1,700**, maintaining a **"buy"** rating and indicating a potential upside of **6.78%**.
• Other firms like Citigroup and Canaccord Genuity have also upgraded their price targets, with Citigroup setting the target at GBX **1,700** and maintaining a **"buy"** rating.
• Fresnillo is the **world's largest silver producer** and Mexico's largest gold producer, with a current market capitalization of **£14.70 billion** and a **P/E ratio** of **59.33**.

Fresnillo (LON:FRES - Get Free Report) had its price target upped by stock analysts at Berenberg Bank from GBX 1,620 ($21.79) to GBX 1,700 ($22.86) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage currently has a "buy" rating on the stock. Berenberg Bank's price objective points to a potential upside of 1.34% from the stock's previous close.

Several other research firms have also recently commented on FRES. Canaccord Genuity Group lifted their target price on shares of Fresnillo from GBX 805 ($10.83) to GBX 980 ($13.18) and gave the stock a "hold" rating in a research report on Thursday, April 24th. Citigroup upped their price target on shares of Fresnillo from GBX 1,300 ($17.48) to GBX 1,700 ($22.86) and gave the company a "buy" rating in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating on shares of Fresnillo in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Fresnillo presently has an average rating of "Moderate Buy" and a consensus price target of GBX 1,472 ($19.80).

Fresnillo Stock Up 1.4%

FRES traded up GBX 22.48 ($0.30) during midday trading on Tuesday, reaching GBX 1,677.48 ($22.56). 1,318,470 shares of the company were exchanged, compared to its average volume of 2,522,508. The company has a market cap of £15.49 billion, a price-to-earnings ratio of 62.52, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. Fresnillo has a one year low of GBX 502 ($6.75) and a one year high of GBX 1,738 ($23.37). The company's fifty day moving average price is GBX 1,430.90 and its 200 day moving average price is GBX 1,082.86. The company has a debt-to-equity ratio of 23.55, a quick ratio of 3.28 and a current ratio of 5.88.

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.