Fresnillo (LON:FRES) Shares Up 6.6% After Analyst Upgrade

Key Points

• Fresnillo's stock surged 6.6% after JPMorgan Chase & Co. increased its price target from GBX 1,850 to GBX 2,100, maintaining an overweight rating.
• Other analysts like Berenberg Bank and Citigroup have also raised their target prices to GBX 1,700, indicating strong buy sentiments.
• Fresnillo is the world's largest silver producer and Mexico's largest gold producer, with a market cap of £15.41 billion.

Fresnillo plc (LON:FRES - Get Free Report) shares shot up 6.6% during trading on Thursday after Royal Bank Of Canada raised their price target on the stock from GBX 1,200 to GBX 1,400. Royal Bank Of Canada currently has a sector perform rating on the stock. Fresnillo traded as high as GBX 1,655 ($22.25) and last traded at GBX 1,620.32 ($21.78). 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 ($20.44).

Several other research firms also recently commented on FRES. Canaccord Genuity Group boosted their target price on shares of Fresnillo from GBX 805 ($10.82) to GBX 980 ($13.18) and gave the stock a "hold" rating in a research report on Thursday, April 24th. Citigroup upped their target price 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. JPMorgan Chase & Co. increased their price target on shares of Fresnillo from GBX 1,850 ($24.87) to GBX 2,100 ($28.23) and gave the stock an "overweight" rating in a report on Thursday. Finally, Berenberg Bank increased their price target on shares of Fresnillo from GBX 1,620 ($21.78) to GBX 1,700 ($22.86) and gave the company a "buy" rating in a research report on Tuesday, August 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of GBX 1,576 ($21.19).

Fresnillo Stock Up 1.8%

The stock has a market capitalization of £16.10 billion, a PE ratio of 64.96, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. The company has a current ratio of 5.88, a quick ratio of 3.28 and a debt-to-equity ratio of 23.55. The company's 50-day moving average is GBX 1,441.89 and its 200 day moving average is GBX 1,095.59.

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.