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

Key Points

• Fresnillo plc shares surged by 6.6% after JPMorgan Chase & Co. raised their price target from GBX 1,850 to GBX 2,100, with an "overweight" rating on the stock.
• Other analysts such as Canaccord Genuity Group and Citigroup have also raised their price targets, with Fresnillo holding a consensus rating of "Moderate Buy" and a target of GBX 1,472.
• The company 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) shares rose 6.6% during mid-day trading on Thursday after Royal Bank Of Canada raised their price target on the stock from GBX 1,200 to GBX 1,400. Royal Bank Of Canada currently has a sector perform rating on the stock. Fresnillo traded as high as GBX 1,655 ($22.25) and last traded at GBX 1,620.32 ($21.78). Approximately 2,149,009 shares traded hands during mid-day 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 weighed in on FRES. Berenberg Bank raised their price objective on shares of Fresnillo from GBX 1,620 ($21.78) to GBX 1,700 ($22.86) and gave the company a "buy" rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. raised their price objective on shares of Fresnillo from GBX 1,850 ($24.87) to GBX 2,100 ($28.23) and gave the company an "overweight" rating in a research report on Thursday. Canaccord Genuity Group raised their price objective on shares of Fresnillo from GBX 805 ($10.82) to GBX 980 ($13.18) and gave the company a "hold" rating in a research report on Thursday, April 24th. Finally, Citigroup upped 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 note on Thursday, July 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of GBX 1,576 ($21.19).

Fresnillo Price Performance

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 company's 50 day moving average price is GBX 1,441.89 and its 200 day moving average price is GBX 1,095.59. The company has a market cap of £16.10 billion, a price-to-earnings ratio of 64.96, a P/E/G 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.