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

Key Points

• Fresnillo plc saw its stock price drop by 12.2% to GBX 2,114 ($28.27), following a decline in trading volume.
• Analysts have revised their price targets for Fresnillo, with ranges between GBX 1,200 and 2,600, reflecting a mix of ratings including "buy" and "hold."
• The company is known as the world's largest silver producer and focuses on developing high-potential silver and gold mining projects.

Fresnillo plc (LON:FRES - Get Free Report) dropped 12.2% 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 changed hands during mid-day 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).

Analysts Set New Price Targets

FRES has been the subject of a number of analyst reports. Royal Bank Of Canada lifted their price target 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. Canaccord Genuity Group lifted their price target on shares of Fresnillo from GBX 980 to GBX 2,440 and gave the company a "hold" rating in a research report on Friday. JPMorgan Chase & Co. lifted their price target 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 lifted their price target 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. 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 analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Fresnillo currently has an average rating of "Moderate Buy" and an average target price of GBX 2,048.

Fresnillo Trading Down 12.2%

The business's 50 day simple moving average is GBX 2,124.68 and its two-hundred day simple moving average is GBX 1,559.36. The stock has a market cap of £15.58 billion, a P/E ratio of 34.21, a PEG ratio of -1.58 and a beta of 0.15. The company has a quick ratio of 3.28, a current ratio of 5.88 and a debt-to-equity ratio of 23.55.

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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