Fresnillo (LON:FRES) Trading Down 12.2% - Here's What Happened

Key Points

• Fresnillo plc shares declined by 12.2% during mid-day trading, reaching a low of GBX 2,000 ($26.74) before closing at GBX 2,114 ($28.27).
• Several analyst firms have recently increased their price targets for Fresnillo, with Royal Bank Of Canada raising its target from GBX 1,200 to GBX 1,400, while Berenberg Bank increased its target to GBX 2,600.
• The company has a market capitalization of £15.82 billion and maintains a strong liquidity position with a current ratio of 5.88 and a quick ratio of 3.28.

Shares of Fresnillo plc (LON:FRES - Get Free Report) dropped 12.2% during mid-day trading on Tuesday . The company traded as low as GBX 2,000 ($26.74) and last traded at GBX 2,114 ($28.27). Approximately 2,780,052 shares were traded during trading, a decline of 14% from the average daily volume of 3,248,329 shares. The stock had previously closed at GBX 2,408 ($32.20).

Analyst Upgrades and Downgrades

FRES has been the subject of a number of recent research reports. Royal Bank Of Canada boosted their price objective on shares of Fresnillo from GBX 1,200 to GBX 1,400 and gave the company a "sector perform" rating in a research report on Monday, August 11th. JPMorgan Chase & Co. boosted 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. Citigroup boosted their price objective on shares of Fresnillo from GBX 1,300 to GBX 1,700 and gave the company a "buy" rating in a research report on Thursday, July 10th. Canaccord Genuity Group boosted their price objective on shares of Fresnillo from GBX 980 to GBX 2,440 and gave the company a "hold" rating in a research report on Friday, October 17th. Finally, Berenberg Bank boosted 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 research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of GBX 2,048.

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 business's 50 day moving average is GBX 2,124.68 and its two-hundred day moving average is GBX 1,559.36. The company has a market cap of £15.82 billion, a PE ratio of 34.73, 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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