Fresnillo (LON:FRES) Reaches New 1-Year High - Time to Buy?

Key Points

• Fresnillo plc's stock reached a new 52-week high of GBX 2,386 ($32.14) during trading, increasing from a previous close of GBX 2,276 ($30.66).
• Multiple analysts have upgraded their price targets for Fresnillo, with Citigroup and Berenberg Bank both assigning a "buy" rating and raising targets to GBX 1,700.
• The company's market capitalization stands at £17.40 billion, positioning it as the world's largest silver producer and Mexico's largest gold producer.

Fresnillo plc (LON:FRES - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as GBX 2,386 ($32.25) and last traded at GBX 2,380 ($32.17), with a volume of 42570953 shares. The stock had previously closed at GBX 2,276 ($30.76).

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Berenberg Bank raised their price objective on Fresnillo from GBX 1,620 to GBX 1,700 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Citigroup increased their price target on Fresnillo from GBX 1,300 to GBX 1,700 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Royal Bank Of Canada upped their target price on Fresnillo from GBX 1,200 to GBX 1,400 and gave the stock a "sector perform" rating in a research note on Monday, August 11th. Finally, JPMorgan Chase & Co. raised their price objective on Fresnillo from GBX 1,850 to GBX 2,100 and gave the company an "overweight" rating in a report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of GBX 1,576.

Fresnillo Price Performance

The firm has a market capitalization of £17.41 billion, a P/E ratio of 3,822.08, 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. The business has a 50 day simple moving average of GBX 1,760.48 and a two-hundred day simple moving average of GBX 1,349.87.

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.