Fresnillo (LON:FRES) Trading Up 6.6% Following Analyst Upgrade

Key Points

• Fresnillo's shares rose 6.6% after Berenberg Bank upgraded its price target from GBX 1,620 to GBX 1,700, maintaining a buy rating on the stock.
• Investment analysts show confidence in Fresnillo, with three buy ratings and a consensus rating of "Moderate Buy," along with an average price target of GBX 1,422.
• The company, recognized as the world's largest silver producer, reported a market capitalization of £14.97 billion, reflecting its strong position in the precious metals sector.

Fresnillo plc (LON:FRES - Get Free Report) shares were up 6.6% during mid-day trading on Wednesday after Berenberg Bank raised their price target on the stock from GBX 1,620 to GBX 1,700. Berenberg Bank currently has a buy rating on the stock. Fresnillo traded as high as GBX 1,655 ($22.11) and last traded at GBX 1,620.32 ($21.64). Approximately 2,149,009 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 2,530,482 shares. The stock had previously closed at GBX 1,520 ($20.30).

FRES has been the subject of several other research reports. JPMorgan Chase & Co. restated an "overweight" rating on shares of Fresnillo in a research report on Thursday, July 24th. Citigroup boosted their price objective on Fresnillo from GBX 1,300 ($17.37) to GBX 1,700 ($22.71) and gave the stock a "buy" rating in a report on Thursday, July 10th. Finally, Canaccord Genuity Group raised their target price on shares of Fresnillo from GBX 805 ($10.75) to GBX 980 ($13.09) and gave the stock a "hold" rating in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of GBX 1,422 ($19.00).

Fresnillo Price Performance

The firm has a market capitalization of £14.97 billion, a P/E ratio of 60.39, 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 quick ratio of 3.28 and a current ratio of 5.88. The stock has a 50 day moving average of GBX 1,410.02 and a two-hundred day moving average of GBX 1,072.24.

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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