Fresnillo (LON:FRES) Shares Up 6.6% Following Analyst Upgrade

Key Points

• Fresnillo plc shares increased by 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 have also shown positive sentiment, with Citigroup raising their price objective to GBX 1,700 and JPMorgan maintaining an "overweight" rating.
• Fresnillo is recognized as the world's largest silver producer and Mexico's largest gold producer, focusing on developing low-cost, world-class mining projects.

Fresnillo plc (LON:FRES - Get Free Report)'s share price rose 6.6% during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from GBX 1,850 to GBX 2,100. JPMorgan Chase & Co. currently has an overweight rating on the stock. Fresnillo traded as high as GBX 1,655 ($22.26) and last traded at GBX 1,620.32 ($21.79). Approximately 2,149,009 shares traded hands during trading, a decline of 15% from the average daily volume of 2,530,482 shares. The stock had previously closed at GBX 1,520 ($20.44).

Several other equities analysts have also recently commented on FRES. Berenberg Bank raised their target price on shares of Fresnillo from GBX 1,620 ($21.79) to GBX 1,700 ($22.86) and gave the company a "buy" rating in a research note on Tuesday, August 5th. Canaccord Genuity Group raised their price objective on shares of Fresnillo from GBX 805 ($10.83) to GBX 980 ($13.18) and gave the company a "hold" rating in a research report on Thursday, April 24th. Finally, Citigroup raised their price objective on shares of Fresnillo from GBX 1,300 ($17.48) to GBX 1,700 ($22.86) and gave the company a "buy" rating in a research report on Thursday, July 10th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Fresnillo currently has a consensus rating of "Moderate Buy" and an average price target of GBX 1,472 ($19.80).

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's 50-day moving average price is GBX 1,441.89 and its two-hundred day moving average price is GBX 1,092.70. The company has a market cap of £15.82 billion, a P/E ratio of 63.84, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15.

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.