Fresnillo (LON:FRES) Trading Up 6.6% on 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.

Shares of Fresnillo plc (LON:FRES - Get Free Report) shot up 6.6% on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from GBX 1,850 to GBX 2,100. JPMorgan Chase & Co. currently has an overweight rating on the stock. Fresnillo traded as high as GBX 1,655 ($22.26) and last traded at GBX 1,620.32 ($21.79). 2,149,009 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 2,530,482 shares. The stock had previously closed at GBX 1,520 ($20.44).

Other research analysts have also issued research reports about the company. Canaccord Genuity Group upped their price target on Fresnillo from GBX 805 ($10.83) to GBX 980 ($13.18) and gave the company a "hold" rating in a research report on Thursday, April 24th. Berenberg Bank upped their target price on Fresnillo from GBX 1,620 ($21.79) to GBX 1,700 ($22.86) and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, Citigroup upped their price objective on shares of Fresnillo from GBX 1,300 ($17.48) to GBX 1,700 ($22.86) and gave the stock a "buy" rating in a report on Thursday, July 10th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 1,472 ($19.80).

Fresnillo Stock Performance

The company's 50 day moving average is GBX 1,441.89 and its 200-day moving average is GBX 1,092.70. The company has a market capitalization of £15.82 billion, a P/E ratio of 63.84, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. The company has a current ratio of 5.88, a quick ratio of 3.28 and a debt-to-equity ratio of 23.55.

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.