Fresnillo (LON:FRES) Shares Down 12.2% - Should You Sell?

Key Points

• Fresnillo plc's shares dropped 12.2%, trading as low as GBX 2,000 ($26.74) during mid-day trading.
• Brokerages have mixed ratings on Fresnillo, with Canaccord Genuity raising its target price to GBX 2,440 and a consensus rating of "Moderate Buy" based on various analysts' assessments.
• Fresnillo is the world's largest silver producer and Mexico's largest gold producer, focusing on high-potential projects that can develop into low-cost, world-class mines.

Fresnillo plc (LON:FRES - Get Free Report) was down 12.2% during mid-day trading on Tuesday . The company traded as low as GBX 2,000 ($26.74) and last traded at GBX 2,114 ($28.27). Approximately 2,780,052 shares were traded during trading, a decline of 14% from the average daily volume of 3,248,329 shares. The stock had previously closed at GBX 2,408 ($32.20).

Wall Street Analyst Weigh In

Several brokerages have weighed in on FRES. Canaccord Genuity Group lifted their target price on Fresnillo from GBX 980 to GBX 2,440 and gave the company a "hold" rating in a research note on Friday. Citigroup boosted 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. Royal Bank Of Canada lifted their target price on shares of Fresnillo from GBX 1,200 to GBX 1,400 and gave the company a "sector perform" rating in a report on Monday, August 11th. Berenberg Bank increased their price target 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of Fresnillo from GBX 1,850 to GBX 2,100 and gave the company an "overweight" rating in a research report on Thursday, August 7th. 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, Fresnillo has a consensus rating of "Moderate Buy" and an average target price of GBX 2,048.

Fresnillo Stock Performance

The stock's 50 day moving average price is GBX 2,117.10 and its two-hundred day moving average price is 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 capitalization of £15.58 billion, a price-to-earnings ratio of 34.21, a PEG ratio of -1.58 and a beta of 0.15.

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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