Fresnillo (LON:FRES) Shares Down 13.3% - Here's What Happened

Key Points

• Fresnillo plc's shares declined by 13.3% on Tuesday, trading as low as GBP 2,000, which is a significant drop from its previous closing price of GBP 2,408.
• Analysts have mixed ratings for Fresnillo, with three giving it a "Buy" rating and an average consensus target price of GBP 2,048, indicating potential recovery.
• The company's market cap stands at £15.58 billion, and it is recognized as the world's largest silver producer, focusing on high-potential silver and gold projects.

Shares of Fresnillo plc (LON:FRES - Get Free Report) traded down 13.3% on Tuesday . The stock traded as low as GBX 2,000 ($26.81) and last traded at GBX 2,087.52 ($27.98). 7,933,892 shares changed hands during mid-day trading, an increase of 142% from the average session volume of 3,273,593 shares. The stock had previously closed at GBX 2,408 ($32.28).

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FRES shares. JPMorgan Chase & Co. boosted 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. Berenberg Bank boosted their price target on Fresnillo from GBX 1,700 to GBX 2,600 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Citigroup raised their price objective on Fresnillo from GBX 1,300 to GBX 1,700 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Canaccord Genuity Group upped their target price on shares of Fresnillo from GBX 980 to GBX 2,440 and gave the stock a "hold" rating in a research report on Friday. Finally, Royal Bank Of Canada increased their target price on Fresnillo from GBX 1,200 to GBX 1,400 and gave the company 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 given a Hold rating to the stock. Based on data from MarketBeat, Fresnillo presently has an average rating of "Moderate Buy" and a consensus target price of GBX 2,048.

Fresnillo Trading Down 12.2%

The company's fifty day moving average is GBX 2,117.10 and its 200-day moving average is GBX 1,555.48. The stock has a market cap of £15.58 billion, a PE ratio of 34.21, a PEG ratio of -1.58 and a beta of 0.15. The company has a debt-to-equity ratio of 23.55, a current ratio of 5.88 and a quick ratio of 3.28.

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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