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

Key Points

• Fresnillo plc shares surged by 6.6% after Berenberg Bank raised its price target on the stock from GBX 1,620 to GBX 1,700, maintaining a "buy" rating.
• Other analysts, including Canaccord Genuity and Citigroup, have also increased their target prices, contributing to a consensus rating of "Moderate Buy" with a target of GBX 1,422.
• The company is recognized as the world's largest silver producer and Mexico's largest gold producer, focusing on developing high-potential silver and gold projects.

Fresnillo plc (LON:FRES - Get Free Report) shares traded up 6.6% 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). 2,149,009 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 2,530,482 shares. The stock had previously closed at GBX 1,520 ($20.30).

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group increased their target price on 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. JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of Fresnillo in a report on Thursday, July 24th. Finally, Citigroup upped their target price on shares of Fresnillo from GBX 1,300 ($17.37) to GBX 1,700 ($22.71) and gave the stock a "buy" rating in a research report on Thursday, July 10th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Fresnillo has a consensus rating of "Moderate Buy" and a consensus price target of GBX 1,422 ($19.00).

Fresnillo Price Performance

The business's 50-day moving average price is GBX 1,410.02 and its two-hundred day moving average price is GBX 1,072.24. The firm has a market cap of £14.97 billion, a price-to-earnings 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 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.

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