Fresnillo (LON:FRES) Sets New 52-Week High – Here’s What Happened

Fresnillo plc (LON:FRES)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 975 ($12.66) and last traded at GBX 973.50 ($12.64), with a volume of 5928453 shares. The stock had previously closed at GBX 923 ($11.98).

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Canaccord Genuity Group raised their price target on shares of Fresnillo from GBX 760 ($9.87) to GBX 805 ($10.45) and gave the company a “hold” rating in a research report on Tuesday, February 25th. Berenberg Bank raised Fresnillo to a “buy” rating and boosted their target price for the stock from GBX 840 ($10.90) to GBX 1,020 ($13.24) in a research note on Thursday, March 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a GBX 880 ($11.42) price objective on shares of Fresnillo in a research note on Thursday, March 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of GBX 824 ($10.70).

Fresnillo Trading Up 4.4 %

The company has a current ratio of 5.88, a quick ratio of 3.28 and a debt-to-equity ratio of 23.55. The firm has a market cap of £8.90 billion, a PE ratio of 35.91, a P/E/G ratio of -1.58 and a beta of 0.15. The business has a fifty day moving average price of GBX 845.16 and a 200 day moving average price of GBX 726.16.

Fresnillo Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, April 17th will be paid a $0.68 dividend. This is a positive change from Fresnillo’s previous dividend of $0.06. This represents a yield of 5.49%. The ex-dividend date of this dividend is Thursday, April 17th. Fresnillo’s dividend payout ratio is currently 29.82%.

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.