Fresnillo (LON:FRES) Trading Down 5.6% – Should You Sell?

Fresnillo plc (LON:FRES) was down 5.6% 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 Analysts Forecast Growth

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

Fresnillo Price Performance

The firm’s 50 day simple moving average is GBX 868.32 and its two-hundred day simple moving average is GBX 737.67. 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 firm has a market capitalization of £9.43 billion, a P/E ratio of 38.05, a P/E/G ratio of -1.58 and a beta of 0.15.

Fresnillo Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, April 17th will be issued 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 (DPR) is currently 29.82%.

About Fresnillo

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.