Fresnillo (LON:FRES) Shares Down 5.6% - Here's Why

Fresnillo plc (LON:FRES - Get Free Report)'s stock price dropped 5.6% during mid-day trading on Friday . The company traded as low as GBX 1,007 ($13.34) and last traded at GBX 1,021 ($13.53). Approximately 1,248,325 shares were traded during trading, a decline of 63% from the average daily volume of 3,374,354 shares. The stock had previously closed at GBX 1,081 ($14.32).

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FRES shares. Berenberg Bank raised Fresnillo to a "buy" rating and lifted their target price for the company from GBX 840 ($11.13) to GBX 1,020 ($13.52) in a report on Thursday, March 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a GBX 880 ($11.66) target price on shares of Fresnillo in a report on Thursday, March 13th. Finally, Canaccord Genuity Group increased their target price on shares of Fresnillo from GBX 760 ($10.07) to GBX 805 ($10.67) and gave the stock a "hold" rating in a research note on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of GBX 824 ($10.92).

Fresnillo Stock Performance

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 cap of £9.10 billion, a P/E ratio of 36.71, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. The company's fifty day moving average is GBX 886.72 and its 200 day moving average is GBX 749.86.

Fresnillo Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, April 17th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Thursday, April 17th. This is a boost from Fresnillo's previous dividend of $0.06. This represents a yield of 5.49%. Fresnillo's dividend payout ratio is currently 29.82%.

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.