Fresnillo (LON:FRES) Stock Price Down 5.6% - Here's What Happened

Fresnillo plc (LON:FRES - Get Free Report)'s stock price traded down 5.6% during trading on Friday . The stock traded as low as GBX 1,007 ($13.36) and last traded at GBX 1,021 ($13.55). 1,248,325 shares were traded during mid-day trading, a decline of 63% from the average session volume of 3,374,354 shares. The stock had previously closed at GBX 1,081 ($14.35).

Analysts Set New Price Targets

Several research firms recently weighed in on FRES. Royal Bank of Canada restated a "sector perform" rating and set a GBX 880 ($11.68) target price on shares of Fresnillo in a research note on Thursday, March 13th. Berenberg Bank upgraded shares of Fresnillo to a "buy" rating and boosted their price objective for the stock from GBX 840 ($11.15) to GBX 1,020 ($13.54) in a research report on Thursday, March 6th. Finally, Canaccord Genuity Group increased their target price on shares of Fresnillo from GBX 760 ($10.09) to GBX 805 ($10.68) and gave the company a "hold" rating in a research report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Fresnillo has a consensus rating of "Hold" and an average target price of GBX 824 ($10.94).

Fresnillo Stock Performance

The stock has a market cap of £9.10 billion, a PE ratio of 36.71, a P/E/G ratio of -1.58 and a beta of 0.15. The firm's 50-day moving average is GBX 890.45 and its 200 day moving average is GBX 751.47. The company has a debt-to-equity ratio of 23.55, a quick ratio of 3.28 and a current ratio of 5.88.

Fresnillo Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, April 17th will be given a $0.68 dividend. This represents a yield of 5.49%. The ex-dividend date is Thursday, April 17th. This is a boost from Fresnillo's previous dividend of $0.06. Fresnillo's payout ratio is 29.82%.

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.