Fresnillo (LON:FRES) Stock Price Up 6.6% After Analyst Upgrade

Key Points

• Fresnillo plc shares saw a significant increase of 6.6% after Berenberg Bank raised its price target from GBX 1,620 to GBX 1,700, maintaining a buy rating on the stock.
• Other analysts, including Citigroup and JPMorgan Chase & Co., have also upgraded their ratings on Fresnillo, with a consensus price target of GBX 1,422.
• Fresnillo is recognized as the world's largest silver producer and Mexico's largest gold producer, focusing on high-potential projects and seeking to advance its growth pipeline.

Shares of Fresnillo plc (LON:FRES - Get Free Report) traded up 6.6% on Wednesday after Berenberg Bank raised their price target on the stock from GBX 1,620 to GBX 1,700. Berenberg Bank currently has a buy rating on the stock. Fresnillo traded as high as GBX 1,655 ($22.11) and last traded at GBX 1,620.32 ($21.64). 2,149,009 shares traded hands during trading, a decline of 15% from the average session volume of 2,530,482 shares. The stock had previously closed at GBX 1,520 ($20.30).

Other equities research analysts also recently issued reports about the stock. Citigroup raised their price objective on shares of Fresnillo from GBX 1,300 ($17.37) to GBX 1,700 ($22.71) and gave the stock a "buy" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of Fresnillo in a report on Thursday, July 24th. Finally, Canaccord Genuity Group increased their price objective on Fresnillo from GBX 805 ($10.75) to GBX 980 ($13.09) and gave the stock a "hold" rating in a research report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Fresnillo has an average rating of "Moderate Buy" and a consensus price target of GBX 1,422 ($19.00).

Fresnillo Stock Up 6.6%

The company has a market capitalization of £14.97 billion, a PE ratio of 60.39, a P/E/G ratio of -1.58 and a beta of 0.15. The stock's fifty day moving average is GBX 1,419.86 and its two-hundred day moving average is GBX 1,076.02. The company has a current ratio of 5.88, a quick ratio of 3.28 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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