Fresnillo (LON:FRES) Sets New 52-Week High Following 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)'s share price reached 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 traded. The stock had previously closed at GBX 1,434 ($19.29).

Other equities research analysts have also issued reports about the stock. Citigroup lifted their price target on shares of Fresnillo from GBX 1,300 ($17.48) to GBX 1,700 ($22.86) and gave the stock a "buy" rating in a research note on Thursday, July 10th. Berenberg Bank lifted 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 lifted their price target on shares of Fresnillo from GBX 805 ($10.83) to GBX 980 ($13.18) and gave the stock a "hold" rating in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Fresnillo currently has a consensus rating of "Moderate Buy" and an average price target of GBX 1,472 ($19.80).

Fresnillo Trading Up 2.4%

The company has a debt-to-equity ratio of 23.55, a current ratio of 5.88 and a quick ratio of 3.28. The company has a market capitalization of £15.82 billion, a price-to-earnings ratio of 63.84, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. The business's 50 day simple moving average is GBX 1,441.89 and its 200 day simple moving average is GBX 1,089.89.

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.