Fresnillo (OTCMKTS:FNLPF) Shares Gap Down - What's Next?

Key Points

• Fresnillo shares fell sharply at the open, dropping from a prior close of $33.25 to $30.84 before last trading at $31.05 on volume of 844 shares.
• Analyst sentiment remains cautious: one analyst rates Fresnillo Buy, four rate it Hold and two rate it Sell, giving the stock an overall “Reduce” consensus. Recent ratings included upgrades from Scotiabank and Zacks Research, but Barclays downgraded it to “strong sell.”
• The Mexico-focused silver and gold miner has strong reported liquidity, with a quick ratio of 5.59 and current ratio of 6.35, while its shares trade below their 50-day and 200-day moving averages of $38.96 and $40.49, respectively.

Shares of Fresnillo PLC (OTCMKTS:FNLPF - Get Free Report) gapped down before the market opened on Monday. The stock had previously closed at $33.25, but opened at $30.84. Fresnillo shares last traded at $31.05, with a volume of 844 shares.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FNLPF shares. Scotiabank raised shares of Fresnillo from a "strong sell" rating to a "hold" rating in a research report on Thursday, July 16th. Jefferies Financial Group assumed coverage on shares of Fresnillo in a research report on Monday, August 3rd. They issued a "hold" rating on the stock. Barclays cut shares of Fresnillo from an "equal weight" rating to a "strong sell" rating in a research note on Thursday, September 3rd. Finally, Zacks Research raised shares of Fresnillo from a "strong sell" rating to a "hold" rating in a report on Monday, October 5th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce".

Fresnillo Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.59 and a current ratio of 6.35. The stock has a 50 day moving average price of $38.96 and a two-hundred day moving average price of $40.49.

About Fresnillo

Fresnillo plc is a Mexico-focused precious metals mining company that explores for, develops, and produces silver and gold. Its operations include underground and open-pit mines, processing facilities, and exploration projects, with production primarily consisting of silver-bearing concentrates, doré and related mineral products.

The company operates in Mexico, including the states of Zacatecas, Durango and Sonora. Its portfolio has included the Fresnillo, Saucito, San Julián, Ciénega and Herradura mines, as well as the Juanicipio silver-gold project, which Fresnillo operates in partnership with MAG Silver.

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