JPMorgan Chase & Co. Issues Positive Forecast for Fresnillo (LON:FRES) Stock Price

Key Points

• JPMorgan Chase & Co. has raised its price target for Fresnillo from GBX 1,850 to GBX 2,100, indicating a potential upside of 24.93%.
• Other analysts, including Citigroup and Canaccord Genuity, have also raised their price targets, with a consensus rating of Moderate Buy and an average target of GBX 1,472.
• Fresnillo plc is recognized as the world’s largest silver producer and Mexico’s largest gold producer, focused on developing low-cost, world-class mining projects.

Fresnillo (LON:FRES - Get Free Report) had its target price upped by analysts at JPMorgan Chase & Co. from GBX 1,850 ($24.87) to GBX 2,100 ($28.23) in a report issued on Thursday, Marketbeat reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 20.48% from the stock's current price.

Other research analysts also recently issued research reports about the stock. Citigroup boosted their target price 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. Canaccord Genuity Group upped their price objective on shares of Fresnillo from GBX 805 ($10.82) to GBX 980 ($13.18) and gave the company a "hold" rating in a research note on Thursday, April 24th. Finally, Berenberg Bank upped their price objective on shares of Fresnillo from GBX 1,620 ($21.78) to GBX 1,700 ($22.86) and gave the company a "buy" rating in a research note on Tuesday, August 5th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Fresnillo has an average rating of "Moderate Buy" and a consensus price target of GBX 1,576 ($21.19).

Fresnillo Price Performance

FRES stock traded up GBX 30.20 ($0.41) during trading on Thursday, hitting GBX 1,743 ($23.43). The stock had a trading volume of 825,453 shares, compared to its average volume of 2,506,039. The company's 50 day moving average price is GBX 1,441.89 and its two-hundred day moving average price is GBX 1,095.59. Fresnillo has a 1-year low of GBX 502 ($6.75) and a 1-year high of GBX 1,754 ($23.58). The stock has a market cap of £16.10 billion, a price-to-earnings ratio of 64.96, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. 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.