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Fresnillo (LON:FRES) Shares Down 12.2% - Here's Why

Fresnillo logo with Basic Materials background

Key Points

  • Fresnillo plc shares saw a significant drop of 12.2% on Tuesday, closing at GBX 2,114 after reaching a low of GBX 2,000.
  • Multiple analysts have adjusted their price targets for Fresnillo, with Berenberg Bank setting a new target of GBX 2,600 and assigning a "buy" rating.
  • The company, which is the world's largest silver producer, has a market cap of £15.58 billion and operates with a high current ratio of 5.88, indicating strong liquidity.
  • MarketBeat previews the top five stocks to own by November 1st.

Fresnillo plc (LON:FRES - Get Free Report) fell 12.2% on Tuesday . The stock traded as low as GBX 2,000 ($26.81) and last traded at GBX 2,114 ($28.34). 2,780,052 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 3,248,329 shares. The stock had previously closed at GBX 2,408 ($32.28).

Analysts Set New Price Targets

A number of research firms have commented on FRES. Berenberg Bank lifted their target price on shares of Fresnillo from GBX 1,700 to GBX 2,600 and gave the stock a "buy" rating in a report on Tuesday, October 7th. Canaccord Genuity Group lifted their price objective on Fresnillo from GBX 980 to GBX 2,440 and gave the stock a "hold" rating in a research note on Friday. JPMorgan Chase & Co. upped their price objective on Fresnillo from GBX 1,850 to GBX 2,100 and gave the company an "overweight" rating in a report on Thursday, August 7th. Citigroup raised their target price on Fresnillo from GBX 1,300 to GBX 1,700 and gave the stock a "buy" rating in a report on Thursday, July 10th. Finally, Royal Bank Of Canada boosted their target price on Fresnillo from GBX 1,200 to GBX 1,400 and gave the stock a "sector perform" rating in a research report on Monday, August 11th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Fresnillo has an average rating of "Moderate Buy" and a consensus price target of GBX 2,048.

Read Our Latest Stock Analysis on Fresnillo

Fresnillo Price Performance

The company has a 50 day moving average of GBX 2,117.10 and a 200 day moving average of GBX 1,555.48. The company has a current ratio of 5.88, a quick ratio of 3.28 and a debt-to-equity ratio of 23.55. The firm has a market cap of £15.58 billion, a price-to-earnings ratio of 34.21, a P/E/G ratio of -1.58 and a beta of 0.15.

About Fresnillo

(Get Free Report)

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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