Fresnillo (LON:FRES) Reaches New 1-Year High - Here's What Happened

Key Points

• Fresnillo plc shares reached a new 52-week high, trading at GBX 1,779 ($24.01) during the day, with significant trading volume of over 3.6 million shares.
• Several brokerages have raised their target prices for Fresnillo, with JPMorgan increasing it to GBX 2,100, indicating a positive outlook for the stock.
• Fresnillo is the world's largest silver producer and Mexico's largest gold producer, focusing on developing low-cost, high-potential mining projects.

Shares of Fresnillo plc (LON:FRES - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 1,779 ($24.01) and last traded at GBX 1,772.50 ($23.93), with a volume of 3686268 shares traded. The stock had previously closed at GBX 1,757 ($23.72).

Wall Street Analysts Forecast Growth

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

Fresnillo Stock Down 0.8%

The company's 50 day moving average price is GBX 1,531.06 and its two-hundred day moving average price is GBX 1,179.04. The firm has a market cap of £16.10 billion, a PE ratio of 64.97, a PEG 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.

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