Fresnillo (OTCMKTS:FNLPF) Shares Gap Down - Here's Why

Key Points

• Fresnillo shares gapped down, opening at $43.89 versus the prior close of $46.21 and last trading at $43.89 on very light volume (341 shares).
• Analysts have a consensus rating of "Reduce" (1 Buy, 6 Hold, 2 Sell), with recent downgrades from Berenberg and Zacks while Citigroup reaffirmed a Buy.
• Technically the stock is below its 50‑day moving average ($47.96) and near its 200‑day average ($43.36); the company reports strong liquidity (quick ratio 3.88, current ratio 4.35) and low leverage (debt/equity 0.17).

Fresnillo PLC (OTCMKTS:FNLPF - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $46.21, but opened at $43.89. Fresnillo shares last traded at $43.89, with a volume of 341 shares.

Wall Street Analysts Forecast Growth

FNLPF has been the subject of a number of research reports. Citigroup reaffirmed a "buy" rating on shares of Fresnillo in a research report on Monday, April 13th. Morgan Stanley reaffirmed an "underweight" rating on shares of Fresnillo in a research report on Monday, January 12th. Berenberg Bank cut shares of Fresnillo from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 5th. Finally, Zacks Research cut shares of Fresnillo from a "strong-buy" rating to a "hold" rating in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Fresnillo currently has a consensus rating of "Reduce".

Fresnillo Price Performance

The business's 50 day moving average is $47.96 and its 200-day moving average is $43.36. The company has a quick ratio of 3.88, a current ratio of 4.35 and a debt-to-equity ratio of 0.17.

About Fresnillo

Fresnillo plc is a precious metals mining company focused on the production, exploration and development of silver and gold. The company is widely recognized as a leading primary silver producer and a significant gold producer, operating in the mining sector with activities that span underground and open-pit mining, mineral processing and concentrator operations. Fresnillo's business centers on bringing mined ore through processing to produce saleable precious metal products for industrial and investment markets.

Operationally, the company manages a portfolio of producing mines and development projects, with exploration programs intended to extend mine life and expand resource bases.

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