Fresnillo (OTCMKTS:FNLPF) Shares Gap Up - Here's What Happened

Key Points

• Fresnillo PLC shares gapped up, opening at $27.01 compared to the previous close of $25.82, and traded at $27.80 with a volume of 4,080 shares.
• Recent analyst ratings for Fresnillo include a downgrade from a "moderate buy" to a "hold" by Peel Hunt, while UBS also lowered its rating from "strong-buy" to "hold."
• The company has a debt-to-equity ratio of 0.20 and strong liquidity ratios, indicating a stable financial position in the mining sector.

Shares of Fresnillo PLC (OTCMKTS:FNLPF - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $25.82, but opened at $27.01. Fresnillo shares last traded at $27.80, with a volume of 4,080 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FNLPF. Peel Hunt lowered shares of Fresnillo from a "moderate buy" rating to a "hold" rating in a report on Tuesday, August 19th. Royal Bank Of Canada reissued a "sector perform" rating on shares of Fresnillo in a report on Monday, August 11th. Finally, UBS Group lowered shares of Fresnillo from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Fresnillo currently has an average rating of "Moderate Buy".

Fresnillo Trading Up 7.2%

The firm's 50-day simple moving average is $21.14 and its 200 day simple moving average is $16.18. The company has a debt-to-equity ratio of 0.20, a quick ratio of 5.51 and a current ratio of 6.63.

About Fresnillo

Fresnillo plc mines, develops, and produces non-ferrous minerals in Mexico. It operates through seven segments: Fresnillo, Saucito, Ciénega, Herradura, Noche Buena, San Julián, and Juanicipio. The company primarily explores for silver, gold, lead, and zinc concentrates. Its projects include the Fresnillo silver mine located in the state of Zacatecas; Saucito silver mine situated in the state of Zacatecas; Ciénega gold mine located in the state of Durango; Herradura gold mine situated in the state of Sonora; Noche Buena gold mine located in the state of Sonora; San Julián silver-gold mine situated on the border of Chihuahua/Durango states; and Juanicipio mine located in the state of Zacatecas.

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