Fresnillo (LON:FRES) Stock Price Expected to Rise, Berenberg Bank Analyst Says

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 target price boosted by equities research analysts at Berenberg Bank from GBX 1,620 ($21.79) to GBX 1,700 ($22.86) in a report released on Tuesday, MarketBeat reports. The brokerage presently has a "buy" rating on the stock. Berenberg Bank's price target points to a potential downside of 0.75% from the company's current price.

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

Fresnillo Stock Up 2.4%

Shares of FRES traded up GBX 39.80 ($0.54) during mid-day trading on Tuesday, hitting GBX 1,712.80 ($23.04). The company's stock had a trading volume of 1,731,995 shares, compared to its average volume of 2,517,023. The company's 50-day moving average is GBX 1,441.89 and its 200-day moving average is GBX 1,092.70. Fresnillo has a 52-week low of GBX 502 ($6.75) and a 52-week high of GBX 1,754 ($23.59). The firm has a market capitalization of £15.82 billion, a price-to-earnings ratio of 63.84, a PEG ratio of -1.58 and a beta of 0.15. The company has a current ratio of 5.88, a quick ratio of 3.28 and a debt-to-equity ratio of 23.55.

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.