Fresnillo (LON:FRES) Shares Down 12.2% - What's Next?

Key Points

• Fresnillo plc shares fell by 12.2%, closing at GBX 2,114 ($28.27) after dipping as low as GBX 2,000 ($26.74) during trading.
• Despite the recent drop, several analysts have set new price targets, with an average target price of GBX 2,048 and a consensus rating of "Moderate Buy."
• Fresnillo is recognized as the world's largest silver producer and Mexico's largest gold producer, focusing on developing low-cost, high-potential mining projects.

Fresnillo plc (LON:FRES - Get Free Report) shares dropped 12.2% during 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 traded hands during mid-day 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).

Analysts Set New Price Targets

FRES has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Fresnillo from GBX 1,850 to GBX 2,100 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Royal Bank Of Canada increased their target price on Fresnillo from GBX 1,200 to GBX 1,400 and gave the stock a "sector perform" rating in a report on Monday, August 11th. Canaccord Genuity Group increased their target price on Fresnillo from GBX 980 to GBX 2,440 and gave the stock a "hold" rating in a report on Friday. Citigroup raised their price target 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, Berenberg Bank raised their price target on Fresnillo from GBX 1,700 to GBX 2,600 and gave the stock a "buy" rating in a report on Tuesday, October 7th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Fresnillo has a consensus rating of "Moderate Buy" and an average target price of GBX 2,048.

Fresnillo Trading Down 12.2%

The firm has a 50-day moving average of GBX 2,124.68 and a 200 day moving average of GBX 1,559.36. 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 stock 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.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.