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

Key Points

• Fresnillo passed above its 200‑day moving average—the 200‑day MA is GBX 2,916.31 and shares traded as high as GBX 3,794 (last GBX 3,774) on volume of 1,734,152, driving an intraday gain of about 7.6%.
• Analysts made mixed moves: JPMorgan cut its target to GBX 4,500 (overweight), Citigroup raised its target to GBX 4,600 (buy), and Berenberg downgraded to hold with a GBX 3,800 target, leaving a MarketBeat consensus rating of "Hold" and a consensus target of GBX 3,348.
• Fresnillo is the world’s largest silver producer and Mexico’s largest gold producer, with a market cap of £27.81 billion and a high P/E of 61.07, indicating elevated valuation metrics.

Fresnillo plc (LON:FRES - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 2,916.31 and traded as high as GBX 3,794. Fresnillo shares last traded at GBX 3,774, with a volume of 1,734,152 shares.

Analyst Ratings Changes

A number of research firms have commented on FRES. JPMorgan Chase & Co. decreased their price objective on shares of Fresnillo from GBX 4,700 to GBX 4,500 and set an "overweight" rating for the company in a report on Monday, February 2nd. Citigroup increased their target price on shares of Fresnillo from GBX 4,000 to GBX 4,600 and gave the stock a "buy" rating in a report on Wednesday, January 14th. Finally, Berenberg Bank downgraded shares of Fresnillo to a "hold" rating and raised their price target for the stock from GBX 3,400 to GBX 3,800 in a research report on Thursday, February 5th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Fresnillo presently has an average rating of "Hold" and a consensus target price of GBX 3,348.

Fresnillo Trading Up 7.6%

The firm has a market cap of £27.81 billion, a P/E ratio of 61.07, a P/E/G ratio of -1.58 and a beta of 0.60. The company has a debt-to-equity ratio of 18.37, a quick ratio of 3.28 and a current ratio of 4.35. The firm has a fifty day moving average of GBX 3,823.07 and a 200-day moving average of GBX 2,916.31.

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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