Fresnillo (LON:FRES) Reaches New 52-Week High - Time to Buy?

Key Points

• Fresnillo shares hit a new 52-week high of GBX 2,440 ($32.45) during trading, showing significant investor interest.
• Several analysts have raised their price targets for Fresnillo, with price targets ranging from GBX 1,400 to GBX 2,600 and a consensus target of GBX 1,756.
• Fresnillo plc is currently the world's largest silver producer and aims to develop high-potential mining projects to drive future growth.

Fresnillo plc (LON:FRES - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 2,440 ($32.45) and last traded at GBX 2,426 ($32.26), with a volume of 4300047 shares changing hands. The stock had previously closed at GBX 2,368 ($31.49).

Analysts Set New Price Targets

Several research firms have issued reports on FRES. Citigroup lifted their price target on Fresnillo from GBX 1,300 to GBX 1,700 and gave the company a "buy" rating in a research note on Thursday, July 10th. Berenberg Bank lifted their price target on Fresnillo from GBX 1,700 to GBX 2,600 and gave the company a "buy" rating in a research note on Tuesday. Royal Bank Of Canada lifted their price target on Fresnillo from GBX 1,200 to GBX 1,400 and gave the company 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 investment 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 presently has an average rating of "Moderate Buy" and a consensus target price of GBX 1,756.

Fresnillo Trading Up 1.1%

The firm has a 50-day moving average of GBX 1,969.68 and a two-hundred day moving average of GBX 1,460.56. The firm has a market capitalization of £17.64 billion, a P/E ratio of 3,873.79, a P/E/G 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.