Fresnillo (LON:FRES) Reaches New 52-Week High on Analyst Upgrade

Key Points

• Fresnillo plc shares reached a new 12-month high of GBX 1,568 ($20.84), reflecting a strong performance with over 5.9 million shares traded.
• Several analysts have increased their target prices for Fresnillo, with Citigroup raising it to GBX 1,700 ($22.59) and maintaining a "buy" rating.
• The company's market capitalization stands at £13.98 billion, and it is recognized as the largest silver producer globally and the largest gold producer in Mexico.

Fresnillo plc (LON:FRES - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from GBX 1,850 to GBX 2,100. JPMorgan Chase & Co. currently has an overweight rating on the stock. Fresnillo traded as high as GBX 1,568 ($21.09) and last traded at GBX 1,552 ($20.87), with a volume of 5977057 shares. The stock had previously closed at GBX 1,434 ($19.28).

Several other equities analysts have also issued reports on FRES. Citigroup raised their price objective on Fresnillo from GBX 1,300 ($17.48) to GBX 1,700 ($22.86) and gave the stock a "buy" rating in a report on Thursday, July 10th. Berenberg Bank increased their price target on shares of Fresnillo from GBX 1,620 ($21.79) to GBX 1,700 ($22.86) and gave the stock a "buy" rating in a research note on Tuesday. Finally, Canaccord Genuity Group raised their price objective on shares of Fresnillo from GBX 805 ($10.83) to GBX 980 ($13.18) and gave the stock a "hold" rating in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Fresnillo has a consensus rating of "Moderate Buy" and a consensus target price of GBX 1,472 ($19.80).

Fresnillo Trading Up 1.4%

The company has a current ratio of 5.88, a quick ratio of 3.28 and a debt-to-equity ratio of 23.55. The stock has a market cap of £15.49 billion, a PE ratio of 62.52, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. The business has a 50 day moving average of GBX 1,430.90 and a 200-day moving average of GBX 1,082.86.

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.