Fresnillo (LON:FRES) Trading Down 12.2% - Time to Sell?

Key Points

• Fresnillo's stock experienced a significant decline of 12.2%, trading as low as GBX 2,000 before closing at GBX 2,114.
• Several research analysts have raised their price targets for Fresnillo, indicating mixed sentiments, with a consensus rating of "Moderate Buy."
• Fresnillo is the world's largest silver producer and aims to advance its pipeline to ensure continued growth.

Fresnillo plc (LON:FRES - Get Free Report) was down 12.2% during trading on Tuesday . The stock 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).

Wall Street Analyst Weigh In

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

Fresnillo Stock Performance

The company has a market capitalization of £15.58 billion, a PE ratio of 34.21, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. 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 stock's fifty day simple moving average is GBX 2,124.68 and its 200-day simple moving average is GBX 1,559.36.

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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