Fresnillo (LON:FRES) Hits New 12-Month High Following Analyst Upgrade

Key Points

• Fresnillo plc achieved a new 52-week high with its share price reaching GBX 1,769 ($23.76) following an upgrade from the Royal Bank of Canada, raising its price target to GBX 1,400.
• In addition to Royal Bank of Canada's upgrade, other analysts have also increased their price targets, with JPMorgan Chase setting the highest at GBX 2,100 ($28.21) and giving an "overweight" rating.
• The company maintains a strong financial profile with a market cap of £16.23 billion and various positive ratios, emphasizing its status as the world's largest silver producer and Mexico's largest gold producer.

Shares of Fresnillo plc (LON:FRES - Get Free Report) hit a new 52-week high during trading on Tuesday after Royal Bank Of Canada raised their price target on the stock from GBX 1,200 to GBX 1,400. Royal Bank Of Canada currently has a sector perform rating on the stock. Fresnillo traded as high as GBX 1,769 ($23.93) and last traded at GBX 1,761.97 ($23.84), with a volume of 3426429 shares changing hands. The stock had previously closed at GBX 1,743 ($23.58).

A number of other equities analysts have also weighed in on FRES. Citigroup boosted their target price on Fresnillo from GBX 1,300 ($17.59) to GBX 1,700 ($23.00) and gave the stock a "buy" rating in a research report on Thursday, July 10th. Berenberg Bank boosted their target price on Fresnillo from GBX 1,620 ($21.92) to GBX 1,700 ($23.00) and gave the stock a "buy" rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their target price on Fresnillo from GBX 1,850 ($25.03) to GBX 2,100 ($28.41) and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Canaccord Genuity Group upped their price target on shares of Fresnillo from GBX 805 ($10.89) to GBX 980 ($13.26) and gave the company a "hold" rating in a research report on Thursday, April 24th. Two investment 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, the company currently has an average rating of "Moderate Buy" and an average price target of GBX 1,576 ($21.32).

Fresnillo Price Performance

The firm has a 50 day simple moving average of GBX 1,478.09 and a 200-day simple moving average of GBX 1,118.48. The company has a quick ratio of 3.28, a current ratio of 5.88 and a debt-to-equity ratio of 23.55. The company has a market cap of £15.66 billion, a PE ratio of 63.20, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15.

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.