Fresnillo (LON:FRES) Stock Price Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Fresnillo plc's stock price has surpassed its 200-day moving average of GBX 1,142.21, reaching a peak of GBX 1,695 during recent trading.
• Multiple analysts have revised their price targets, with Citigroup increasing its target from GBX 1,300 to GBX 1,700, and JPMorgan Chase raising theirs from GBX 1,850 to GBX 2,100.
• The company operates as the world's largest silver producer and focuses on developing high-potential precious metal projects into low-cost, world-class mines.

Fresnillo plc (LON:FRES - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 1,142.21 ($15.45) and traded as high as GBX 1,695 ($22.93). Fresnillo shares last traded at GBX 1,657.82 ($22.42), with a volume of 4,711,178 shares trading hands.

Wall Street Analysts Forecast Growth

FRES has been the subject of a number of analyst reports. Citigroup raised their price objective on shares of Fresnillo from GBX 1,300 to GBX 1,700 and gave the company 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 to GBX 1,700 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. lifted their price target on shares of Fresnillo from GBX 1,850 to GBX 2,100 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada lifted their price target on shares of Fresnillo from GBX 1,200 to GBX 1,400 and gave the stock a "sector perform" rating in a research note on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Fresnillo presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 1,576.

Fresnillo Stock Performance

The company has a quick ratio of 3.28, a current ratio of 5.88 and a debt-to-equity ratio of 23.55. The company has a market cap of £15.60 billion, a PE ratio of 62.95, a P/E/G ratio of -1.58 and a beta of 0.15. The business's fifty day moving average is GBX 1,513.30 and its 200-day moving average is GBX 1,161.82.

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.