Fresnillo (LON:FRES) Trading Down 12.2% - What's Next?

Key Points

• Fresnillo plc shares experienced a significant decline of 12.2%, trading as low as GBX 2,000 ($26.81) during the session.
• Research analysts have a generally positive outlook for Fresnillo, with multiple firms raising their price targets, resulting in a consensus price target of GBX 2,048 and three "Buy" ratings.
• The company is the world's largest silver producer and Mexico's largest gold producer, focusing on developing low-cost, world-class mines to enhance stakeholder value.

Fresnillo plc (LON:FRES - Get Free Report) was down 12.2% on Tuesday . The company traded as low as GBX 2,000 ($26.81) and last traded at GBX 2,114 ($28.34). Approximately 2,780,052 shares traded 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 ($32.28).

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Citigroup lifted their target price on Fresnillo from GBX 1,300 to GBX 1,700 and gave the stock a "buy" rating in a report on Thursday, July 10th. Royal Bank Of Canada increased 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. lifted their target price 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. Canaccord Genuity Group boosted 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. Finally, Berenberg Bank raised their price target on Fresnillo from GBX 1,700 to GBX 2,600 and gave the stock a "buy" rating in a research note on Tuesday, October 7th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of GBX 2,048.

Fresnillo Stock Down 12.2%

The company's 50-day simple moving average is GBX 2,117.10 and its two-hundred day simple moving average is GBX 1,555.48. The firm has a market capitalization of £15.58 billion, a P/E ratio of 34.21, a P/E/G ratio of -1.58 and a beta of 0.15. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.