Fresnillo (LON:FRES) Hits New 52-Week High - Still a Buy?

Key Points

• Fresnillo plc's stock recently reached a new 52-week high, trading at GBX 2,186 ($29.61) during the day and closing at GBX 2,178 ($29.50).
• Analysts' ratings for Fresnillo have improved, with several firms raising their price targets; the stock has an average rating of "Moderate Buy" and a consensus target price of GBX 1,576.
• Fresnillo is the world's largest silver producer and aims to develop high-potential silver and gold projects into low-cost mines, focusing on consolidating growth after a decade of progress.

Shares of Fresnillo plc (LON:FRES - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 2,186 ($29.64) and last traded at GBX 2,178 ($29.53), with a volume of 1447970 shares changing hands. The stock had previously closed at GBX 2,118.17 ($28.72).

Analyst Ratings Changes

FRES has been the topic of several recent research reports. Royal Bank Of Canada boosted their price target on Fresnillo from GBX 1,200 to GBX 1,400 and gave the company a "sector perform" rating in a research report on Monday, August 11th. Citigroup boosted their price target on Fresnillo from GBX 1,300 to GBX 1,700 and gave the company a "buy" rating in a research report on Thursday, July 10th. Berenberg Bank boosted their price target 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. Finally, JPMorgan Chase & Co. lifted 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 assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of GBX 1,576.

Fresnillo Price Performance

The company has a 50 day moving average price of GBX 1,671.35 and a 200 day moving average price of GBX 1,289.61. The firm has a market cap of £16.04 billion, a PE ratio of 3,522.03, 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 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.