Fresnillo (LON:FRES) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Fresnillo plc shares recently crossed above their 200-day moving average of GBX 1,052.93 ($13.91), with shares trading at GBX 1,400 ($18.49) during the latest session.
• Citigroup raised its price target for Fresnillo from GBX 1,300 ($17.17) to GBX 1,700 ($22.46), while maintaining a "buy" rating, reflecting positive sentiment among analysts.
• The company, known as the world's largest silver producer and Mexico's largest gold producer, has a market cap of £12.95 billion and a current P/E ratio of 52.25.

Fresnillo plc (LON:FRES - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,052.93 ($13.99) and traded as high as GBX 1,425 ($18.94). Fresnillo shares last traded at GBX 1,400 ($18.61), with a volume of 610,948 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have commented on FRES. JPMorgan Chase & Co. reissued an "overweight" rating on shares of Fresnillo in a research note on Thursday, July 24th. Citigroup upped their price objective on shares of Fresnillo from GBX 1,300 ($17.28) to GBX 1,700 ($22.59) and gave the company a "buy" rating in a research note on Thursday, July 10th. Berenberg Bank reiterated a "buy" rating and issued a GBX 1,620 ($21.53) price target on shares of Fresnillo in a report on Wednesday, July 23rd. Finally, Canaccord Genuity Group lifted their price target on shares of Fresnillo from GBX 805 ($10.70) to GBX 980 ($13.02) and gave the company a "hold" rating in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Fresnillo presently has a consensus rating of "Moderate Buy" and an average price target of GBX 1,406 ($18.69).

Fresnillo Stock Up 6.0%

The company's 50-day moving average price is GBX 1,401.80 and its 200 day moving average price is GBX 1,069.10. The stock has a market cap of £14.04 billion, a PE ratio of 56.65, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. The company has a debt-to-equity ratio of 23.55, a quick ratio of 3.28 and a current ratio of 5.88.

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.