Fresnillo (LON:FRES) Stock Price Crosses Above 200 Day Moving Average - Here's Why

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) passed 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 ($15.37) and traded as high as GBX 1,695 ($22.80). Fresnillo shares last traded at GBX 1,657.82 ($22.30), with a volume of 4,711,178 shares traded.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FRES shares. Royal Bank Of Canada boosted their price objective on shares of Fresnillo from GBX 1,200 to GBX 1,400 and gave the stock a "sector perform" rating in a report on Monday, August 11th. Berenberg Bank boosted their price objective on shares of Fresnillo from GBX 1,620 to GBX 1,700 and gave the stock a "buy" rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. lifted their target price on shares of Fresnillo from GBX 1,850 to GBX 2,100 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Citigroup lifted their target price on shares of Fresnillo from GBX 1,300 to GBX 1,700 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 1,576.

Fresnillo Stock Performance

The business's 50-day moving average price is GBX 1,518.74 and its 200-day moving average price is GBX 1,171.14. The company has a debt-to-equity ratio of 23.55, a quick ratio of 3.28 and a current ratio of 5.88. The stock has a market cap of £15.60 billion, a P/E ratio of 62.95, a P/E/G ratio of -1.58 and a beta of 0.15.

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.