Fresnillo (LON:FRES) Stock Price Down 5.6% – Time to Sell?

Shares of Fresnillo plc (LON:FRES) were down 5.6% on Friday . The stock traded as low as GBX 1,007 ($13.36) and last traded at GBX 1,021 ($13.55). Approximately 1,248,325 shares were traded during 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).

Wall Street Analysts Forecast Growth

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

Fresnillo Trading Down 5.6 %

The firm has a market cap of £9.43 billion, a price-to-earnings ratio of 38.05, a P/E/G ratio of -1.58 and a beta of 0.15. 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 company’s 50 day simple moving average is GBX 872.70 and its 200 day simple moving average is GBX 740.58.

Fresnillo Increases Dividend

The firm 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. The ex-dividend date of this dividend is Thursday, April 17th. This is a boost from Fresnillo’s previous dividend of $0.06. This represents a 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.