Fresnillo (LON:FRES) Stock Price Down 16.4% - Here's Why

Key Points

• Fresnillo plc's stock price fell 16.4%, closing at GBX 2,012 ($26.97), down from a previous close of GBX 2,408 ($32.28).
• Brokerages have increased their price targets for Fresnillo, with Royal Bank of Canada setting a new price objective of GBX 1,400 and Citigroup raising theirs to GBX 1,700, reflecting a consensus average target price of GBX 2,048.
• The company, recognized as the world's largest silver producer and Mexico's largest gold producer, is focused on advancing its pipeline for continued growth.

Fresnillo plc (LON:FRES - Get Free Report)'s stock price traded down 16.4% during trading on Tuesday . The company traded as low as GBX 2,000 ($26.81) and last traded at GBX 2,012 ($26.97). 7,647,590 shares changed hands during trading, an increase of 134% from the average session volume of 3,272,189 shares. The stock had previously closed at GBX 2,408 ($32.28).

Wall Street Analysts Forecast Growth

Several brokerages have commented on FRES. Royal Bank Of Canada upped their price objective on shares of Fresnillo from GBX 1,200 to GBX 1,400 and gave the stock a "sector perform" rating in a report on Monday, August 11th. Citigroup upped their price objective on shares of Fresnillo from GBX 1,300 to GBX 1,700 and gave the stock a "buy" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. upped their price objective on shares of 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 upped their price objective on shares of Fresnillo from GBX 1,700 to GBX 2,600 and gave the stock a "buy" rating in a report on Tuesday, October 7th. Finally, 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. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Fresnillo has an average rating of "Moderate Buy" and a consensus target price of GBX 2,048.

Fresnillo Stock Performance

The business's fifty day moving average price is GBX 2,117.10 and its 200-day moving average price is GBX 1,555.48. 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 stock has a market cap of £15.58 billion, a PE ratio of 34.21, 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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