Fresnillo (LON:FRES) Shares Cross Above 200 Day Moving Average - Here's Why

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 795.78 ($10.66) and traded as high as GBX 1,054 ($14.12). Fresnillo shares last traded at GBX 1,041 ($13.94), with a volume of 805,253 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FRES shares. Canaccord Genuity Group upped their target price on Fresnillo from GBX 805 ($10.78) to GBX 980 ($13.12) and gave the company a "hold" rating in a research report on Thursday, April 24th. Royal Bank of Canada restated a "sector perform" rating and issued a GBX 880 ($11.79) price target on shares of Fresnillo in a research note on Thursday, March 13th. Finally, Berenberg Bank increased their price objective on Fresnillo from GBX 1,310 ($17.54) to GBX 1,320 ($17.68) and gave the stock a "buy" rating in a research report on Wednesday, April 23rd.

Fresnillo Price Performance

The stock has a market cap of £9.92 billion, a P/E ratio of 40.03, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. The business has a 50-day simple moving average of GBX 973.20 and a 200 day simple moving average of GBX 795.78. 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 Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, April 17th will be paid a $0.68 dividend. This represents a dividend yield of 5.49%. This is an increase from Fresnillo's previous dividend of $0.06. The ex-dividend date of this dividend is Thursday, April 17th. Fresnillo's payout ratio is currently 29.82%.

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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