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

Key Points

• Fresnillo plc shares dropped by 12.2% on Wednesday, with a trading range between GBX 2,000 ($26.74) and GBX 2,114 ($28.27), compared to a previous close of GBX 2,408 ($32.20).
• Wall Street analysts have mixed opinions, with price targets ranging from GBX 1,200 to GBX 2,600 and a consensus rating of "Moderate Buy."
• The company, recognized as the world's largest silver producer and Mexico's largest gold producer, is focused on advancing its pipeline for future growth.

Fresnillo plc (LON:FRES - Get Free Report) traded down 12.2% on Wednesday . The stock traded as low as GBX 2,000 ($26.74) and last traded at GBX 2,114 ($28.27). 2,780,052 shares changed hands during trading, a decline of 14% from the average session volume of 3,248,329 shares. The stock had previously closed at GBX 2,408 ($32.20).

Wall Street Analyst Weigh In

Several equities analysts have commented on FRES shares. Royal Bank Of Canada raised their price objective on 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 stock an "overweight" rating in a research note on Thursday, August 7th. Canaccord Genuity Group raised their target price on shares of Fresnillo from GBX 980 to GBX 2,440 and gave the company a "hold" rating in a research note on Friday, October 17th. Citigroup boosted their price target on Fresnillo from GBX 1,300 to GBX 1,700 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Finally, Berenberg Bank lifted their price objective on Fresnillo from GBX 1,700 to GBX 2,600 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of GBX 2,048.

Fresnillo Stock Up 1.4%

The company has a market cap of £15.80 billion, a P/E ratio of 34.69, a P/E/G ratio of -1.58 and a beta of 0.15. The company'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 debt-to-equity ratio of 23.55, a current ratio of 5.88 and a quick ratio of 3.28.

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.

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