Fresnillo (LON:FRES) Shares Up 6.6% After Analyst Upgrade

Key Points

• Fresnillo plc shares rose 6.6% after Berenberg Bank upgraded their price target from GBX 1,620 to GBX 1,700, maintaining a buy rating.
• Citigroup also increased their target from GBX 1,300 to GBX 1,700 with a buy rating, indicating a positive consensus on the stock.
• Fresnillo, the world's largest silver producer and Mexico's largest gold producer, has a current market capitalization of £14.97 billion.

Fresnillo plc (LON:FRES - Get Free Report)'s share price was up 6.6% on Wednesday after Berenberg Bank raised their price target on the stock from GBX 1,620 to GBX 1,700. Berenberg Bank currently has a buy rating on the stock. Fresnillo traded as high as GBX 1,655 ($22.11) and last traded at GBX 1,620.32 ($21.64). Approximately 2,149,009 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 2,530,482 shares. The stock had previously closed at GBX 1,520 ($20.30).

FRES has been the subject of several other reports. Citigroup raised their target price on Fresnillo from GBX 1,300 ($17.37) to GBX 1,700 ($22.71) and gave the stock a "buy" rating in a research report on Thursday, July 10th. Canaccord Genuity Group increased their price objective on Fresnillo from GBX 805 ($10.75) to GBX 980 ($13.09) and gave the company a "hold" rating in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating on shares of Fresnillo in a report on Thursday, July 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of GBX 1,422 ($19.00).

Fresnillo Stock Up 6.6%

The stock's fifty day moving average is GBX 1,410.02 and its two-hundred day moving average is GBX 1,072.24. 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 company has a market capitalization of £14.97 billion, a PE ratio of 60.39, 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.

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