Fresnillo (LON:FRES) Stock Price Down 5.8% - Here's What Happened

Shares of Fresnillo plc (LON:FRES - Get Free Report) fell 5.8% during mid-day trading on Monday . The stock traded as low as GBX 998 ($13.28) and last traded at GBX 999.50 ($13.30). 1,536,433 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 3,174,844 shares. The stock had previously closed at GBX 1,061 ($14.12).

Wall Street Analyst Weigh In

FRES has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a GBX 880 ($11.71) target price on shares of Fresnillo in a research report on Thursday, March 13th. Berenberg Bank lifted their price objective on shares of Fresnillo from GBX 1,310 ($17.43) to GBX 1,320 ($17.57) and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Finally, Canaccord Genuity Group increased their target price on shares of Fresnillo from GBX 805 ($10.71) to GBX 980 ($13.04) and gave the company a "hold" rating in a research report on Thursday, April 24th.

Fresnillo Stock Down 1.6%

The stock has a market cap of £9.24 billion, a PE ratio of 37.27, a PEG ratio of -1.58 and a beta of 0.15. The company has a debt-to-equity ratio of 23.55, a current ratio of 5.88 and a quick ratio of 3.28. The company has a 50 day moving average price of GBX 964.66 and a two-hundred day moving average price of GBX 790.49.

Fresnillo Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, April 17th will be issued a dividend of $0.68 per share. This represents a dividend yield of 5.49%. The ex-dividend date is Thursday, April 17th. This is an increase from Fresnillo's previous dividend of $0.06. Fresnillo's dividend payout ratio (DPR) is presently 29.82%.

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.