Fresnillo's (FRES) "Sector Perform" Rating Reiterated at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reiterated its “Sector Perform” rating on Fresnillo and maintained a GBX 3,200 price target, implying approximately 10.84% upside.
• Analyst sentiment remains cautious: Fresnillo has an overall “Hold” rating, with two Buy ratings and four Hold ratings, and an average target price of GBX 3,490.
• Fresnillo shares rose 5.4% to open at GBX 2,887, while the company remains the world’s largest silver producer and Mexico’s largest gold producer.

Fresnillo (LON:FRES - Get Free Report)'s stock had its "sector perform" rating reiterated by analysts at Royal Bank Of Canada in a research note issued on Friday,London Stock Exchange reports. They currently have a GBX 3,200 price target on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 10.84% from the stock's current price.

Several other brokerages also recently weighed in on FRES. Citigroup raised their price target on Fresnillo from GBX 4,600 to GBX 5,000 and gave the stock a "buy" rating in a report on Monday, April 13th. JPMorgan Chase & Co. downgraded shares of Fresnillo to an "overweight" rating and cut their price objective for the company from GBX 5,400 to GBX 4,700 in a report on Thursday, July 16th. Jefferies Financial Group reaffirmed a "hold" rating and issued a GBX 2,700 price objective on shares of Fresnillo in a research report on Tuesday. Finally, Berenberg Bank lowered their target price on shares of Fresnillo from GBX 3,300 to GBX 2,900 and set a "hold" rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Fresnillo has an average rating of "Hold" and an average target price of GBX 3,490.

Fresnillo Stock Up 5.4%

Shares of FRES stock opened at GBX 2,887 on Friday. The stock's fifty day moving average price is GBX 2,799.79 and its 200 day moving average price is GBX 3,326.17. Fresnillo has a 1-year low of GBX 1,617 and a 1-year high of GBX 4,472. The company has a market cap of £21.27 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of -1.58 and a beta of 0.70. The company has a debt-to-equity ratio of 16.67, a current ratio of 6.35 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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