Fresnillo (LON:FRES) Price Target Raised to GBX 1,400 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised its price target for Fresnillo stock from GBX 1,200 ($16.13) to GBX 1,400 ($18.82), reflecting a potential downside of 19.03% from its previous close.
• The stock currently holds a consensus average rating of "Moderate Buy" from analysts, with price targets that range from GBX 980 ($13.18) to GBX 2,100 ($28.23).
• Fresnillo is recognized as the world's largest silver producer and Mexico's largest gold producer, with a market cap of £15.97 billion and significant growth plans for the future.

Fresnillo (LON:FRES - Get Free Report) had its target price upped by investment analysts at Royal Bank Of Canada from GBX 1,200 ($16.30) to GBX 1,400 ($19.01) in a report issued on Monday, Marketbeat Ratings reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target indicates a potential downside of 17.11% from the company's current price.

Other research analysts have also recently issued research reports about the stock. Citigroup boosted their price objective on shares of Fresnillo from GBX 1,300 ($17.65) to GBX 1,700 ($23.09) and gave the company a "buy" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of Fresnillo from GBX 1,850 ($25.12) to GBX 2,100 ($28.52) and gave the company an "overweight" rating in a research report on Thursday, August 7th. Berenberg Bank boosted their price objective on shares of Fresnillo from GBX 1,620 ($22.00) to GBX 1,700 ($23.09) and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, Canaccord Genuity Group boosted their price objective on shares of Fresnillo from GBX 805 ($10.93) to GBX 980 ($13.31) and gave the company a "hold" rating in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of GBX 1,576 ($21.40).

Fresnillo Price Performance

LON:FRES traded down GBX 12 ($0.16) during trading hours on Monday, hitting GBX 1,689 ($22.94). 742,713 shares of the stock traded hands, compared to its average volume of 2,480,658. The company has a quick ratio of 3.28, a current ratio of 5.88 and a debt-to-equity ratio of 23.55. Fresnillo has a 1 year low of GBX 502 ($6.82) and a 1 year high of GBX 1,769.16 ($24.02). The company has a market cap of £15.60 billion, a price-to-earnings ratio of 62.95, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. The stock has a 50 day moving average price of GBX 1,470.83 and a 200 day moving average price of GBX 1,111.47.

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.