Fresnillo (LON:FRES) Sets New 12-Month High - Here's Why

Shares of Fresnillo plc (LON:FRES - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 1,136 ($15.29) and last traded at GBX 1,132.28 ($15.24), with a volume of 11857062 shares traded. The stock had previously closed at GBX 1,122 ($15.10).

Analysts Set New Price Targets

A number of research firms recently weighed in on FRES. Berenberg Bank lifted their price target on Fresnillo from GBX 1,310 ($17.63) to GBX 1,320 ($17.76) and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Canaccord Genuity Group boosted their target price on shares of Fresnillo from GBX 805 ($10.83) to GBX 980 ($13.19) and gave the stock a "hold" rating in a research report on Thursday, April 24th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a GBX 880 ($11.84) price target on shares of Fresnillo in a research note on Thursday, March 13th.

Fresnillo Price Performance

The company has a 50 day moving average price of GBX 998.33 and a 200 day moving average price of GBX 813.60. The firm has a market cap of £10.74 billion, a PE ratio of 43.35, a price-to-earnings-growth 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 Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, April 17th will be issued a $0.68 dividend. This is a positive change from Fresnillo's previous dividend of $0.06. The ex-dividend date of this dividend is Thursday, April 17th. This represents a yield of 5.49%. Fresnillo's dividend payout ratio is 29.82%.

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.