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

Fresnillo plc (LON:FRES)’s share price was down 5.6% during mid-day trading on Friday . The company traded as low as GBX 1,007 ($13.36) and last traded at GBX 1,021 ($13.55). Approximately 1,248,325 shares changed hands 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 ($14.34).

Analyst Upgrades and Downgrades

Several research firms have recently commented on FRES. Royal Bank of Canada restated a “sector perform” rating and set a GBX 880 ($11.68) price target on shares of Fresnillo in a research report on Thursday, March 13th. Berenberg Bank upgraded Fresnillo to a “buy” rating and boosted their price objective for the stock from GBX 840 ($11.15) to GBX 1,020 ($13.53) in a report on Thursday, March 6th. Finally, Canaccord Genuity Group lifted their price target on Fresnillo from GBX 760 ($10.08) to GBX 805 ($10.68) and gave the company a “hold” rating in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of GBX 824 ($10.93).

Fresnillo Trading Down 5.6 %

The company’s fifty day moving average price is GBX 872.70 and its two-hundred day moving average price is GBX 740.58. The company has a quick ratio of 3.28, a current ratio of 5.88 and a debt-to-equity ratio of 23.55. The company has a market cap of £9.43 billion, a price-to-earnings ratio of 38.05, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15.

Fresnillo Increases Dividend

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