Fresnillo (LON:FRES) Trading Down 10.5% - What's Next?

Key Points

• Fresnillo plc's stock fell 10.5% during mid-day trading on Friday, trading as low as GBX 2,326 ($31.27), a significant drop from its previous close of GBX 2,628 ($35.33).
• Analysts have set varied price targets for Fresnillo, with Canaccord Genuity raising its target to GBX 2,440 and Citigroup to GBX 1,700, reflecting a consensus rating of "Moderate Buy" among analysts.
• Fresnillo is highlighted as the world's largest silver producer and Mexico's largest gold producer, with a focus on developing high-potential mining projects aimed at consolidating its growth.

Fresnillo plc (LON:FRES - Get Free Report) fell 10.5% during mid-day trading on Friday . The stock traded as low as GBX 2,326 ($31.27) and last traded at GBX 2,352 ($31.62). 1,551,017 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 3,261,698 shares. The stock had previously closed at GBX 2,628 ($35.33).

Analysts Set New Price Targets

A number of analysts have recently issued reports on FRES shares. Canaccord Genuity Group increased their price objective on shares of Fresnillo from GBX 980 to GBX 2,440 and gave the stock a "hold" rating in a research note on Friday. Citigroup upped their target price on shares of Fresnillo from GBX 1,300 to GBX 1,700 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Royal Bank Of Canada upped their target price on shares of Fresnillo from GBX 1,200 to GBX 1,400 and gave the stock a "sector perform" rating in a research report on Monday, August 11th. JPMorgan Chase & Co. increased their price objective on shares of Fresnillo from GBX 1,850 to GBX 2,100 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Berenberg Bank increased their price objective on shares of Fresnillo from GBX 1,700 to GBX 2,600 and gave the company a "buy" rating in a research report on Tuesday, October 7th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Fresnillo presently has a consensus rating of "Moderate Buy" and an average price target of GBX 2,048.

Fresnillo Stock 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 firm's 50 day moving average is GBX 2,091.01 and its 200-day moving average is GBX 1,526.22. The stock has a market capitalization of £17.33 billion, a price-to-earnings ratio of 3,805.83, a PEG ratio of -1.58 and a beta of 0.15.

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.

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