Fresnillo (LON:FRES) Stock Price Down 5.6% – Here’s Why

Fresnillo plc (LON:FRES) was down 5.6% during mid-day trading on Thursday . The stock traded as low as GBX 1,007 ($13.33) and last traded at GBX 1,021 ($13.51). Approximately 1,248,325 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 3,374,354 shares. The stock had previously closed at GBX 1,081 ($14.31).

Wall Street Analyst Weigh In

FRES has been the topic of a number of analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a GBX 880 ($11.65) target price on shares of Fresnillo in a report on Thursday, March 13th. Canaccord Genuity Group lifted their target price on Fresnillo from GBX 760 ($10.06) to GBX 805 ($10.66) and gave the company a “hold” rating in a report on Tuesday, February 25th. Finally, Berenberg Bank upgraded shares of Fresnillo to a “buy” rating and raised their price objective for the company from GBX 840 ($11.12) to GBX 1,020 ($13.50) in a research report on Thursday, March 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of GBX 824 ($10.91).

Fresnillo Trading Down 5.6 %

The company has a debt-to-equity ratio of 23.55, a current ratio of 5.88 and a quick ratio of 3.28. The stock has a 50 day moving average of GBX 868.32 and a 200 day moving average of GBX 737.67. The firm has a market cap of £9.43 billion, a P/E ratio of 38.05, a PEG ratio of -1.58 and a beta of 0.15.

Fresnillo Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, April 17th will be paid a $0.68 dividend. This is a boost from Fresnillo’s previous dividend of $0.06. The ex-dividend date of this dividend is Thursday, April 17th. This represents a dividend yield of 5.49%. Fresnillo’s dividend payout ratio is 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.