Fresnillo (LON:FRES) Stock Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Fresnillo plc shares have recently crossed above their 200-day moving average, reaching a trading price of GBX 2,300 ($30.88) after a high of GBX 2,358 ($31.66).
• Analysts have increased their price targets for Fresnillo, with JPMorgan raising theirs from GBX 1,850 to GBX 2,100, and overall, the stock holds an average rating of "Moderate Buy" with a target price of GBX 1,576.
• The company is recognized as the world's largest silver producer and Mexico's largest gold producer, focusing on developing high-potential, low-cost mines for future growth.

Shares of Fresnillo plc (LON:FRES - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,454.26 ($19.53) and traded as high as GBX 2,358 ($31.66). Fresnillo shares last traded at GBX 2,300 ($30.88), with a volume of 775,970 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on FRES shares. JPMorgan Chase & Co. upped 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 note on Thursday, August 7th. Citigroup upped 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. Berenberg Bank upped their price objective on shares of Fresnillo from GBX 1,620 to GBX 1,700 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Royal Bank Of Canada upped their price objective on shares of Fresnillo from GBX 1,200 to GBX 1,400 and gave the company a "sector perform" rating in a research note on Monday, August 11th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of GBX 1,576.

Fresnillo Stock Up 2.7%

The company has a debt-to-equity ratio of 23.55, a quick ratio of 3.28 and a current ratio of 5.88. The firm has a market cap of £17.41 billion, a PE ratio of 3,822.01, a PEG ratio of -1.58 and a beta of 0.15. The stock has a fifty day moving average price of GBX 1,950.92 and a 200-day moving average price of GBX 1,454.26.

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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