Fresnillo (LON:FRES) Trading 6.6% Higher After 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.

Shares of Fresnillo plc (LON:FRES - Get Free Report) shot up 6.6% during mid-day trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from GBX 1,850 to GBX 2,100. JPMorgan Chase & Co. currently has an overweight rating on the stock. Fresnillo traded as high as GBX 1,655 ($22.26) and last traded at GBX 1,620.32 ($21.79). 2,149,009 shares were traded during trading, a decline of 15% from the average session volume of 2,530,482 shares. The stock had previously closed at GBX 1,520 ($20.44).

Other analysts also recently issued reports about the stock. Citigroup upped their price objective on shares of Fresnillo from GBX 1,300 ($17.48) to GBX 1,700 ($22.86) and gave the stock a "buy" rating in a report on Thursday, July 10th. Canaccord Genuity Group upped their price objective on shares of Fresnillo from GBX 805 ($10.83) to GBX 980 ($13.18) and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, Berenberg Bank upped their price objective on shares of Fresnillo from GBX 1,620 ($21.79) to GBX 1,700 ($22.86) and gave the stock a "buy" rating in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of GBX 1,472 ($19.80).

Fresnillo Stock Performance

The company has a quick ratio of 3.28, a current ratio of 5.88 and a debt-to-equity ratio of 23.55. The stock's fifty day moving average is GBX 1,441.89 and its two-hundred day moving average is GBX 1,092.70. The firm has a market capitalization of £15.82 billion, a price-to-earnings ratio of 63.84, a P/E/G ratio of -1.58 and a beta of 0.15.

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.