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

Key Points

• Fresnillo plc (LON:FRES) saw its stock price drop by 12.2%, closing at GBX 2,114 ($28.34) after trading as low as GBX 2,000 ($26.81).
• Analysts have varying ratings for Fresnillo, with three giving it a Buy rating and two a Hold rating, while the consensus target price is GBX 2,048.
• The company is the world's largest silver producer and aims to enhance stakeholder value through high-potential silver and gold projects, focusing on low-cost, world-class mining operations.

Fresnillo plc (LON:FRES - Get Free Report) was down 12.2% on Tuesday . The stock traded as low as GBX 2,000 ($26.81) and last traded at GBX 2,114 ($28.34). Approximately 2,780,052 shares changed hands during trading, a decline of 14% from the average daily volume of 3,248,329 shares. The stock had previously closed at GBX 2,408 ($32.28).

Analyst Ratings Changes

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

Fresnillo Trading Down 12.2%

The firm has a market capitalization of £15.58 billion, a price-to-earnings ratio of 34.21, a P/E/G ratio of -1.58 and a beta of 0.15. The business has a 50-day moving average of GBX 2,117.10 and a two-hundred day moving average of GBX 1,555.48. The company has a quick ratio of 3.28, a current ratio of 5.88 and a debt-to-equity ratio of 23.55.

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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