Fresnillo (LON:FRES) Stock Price Down 5.6% – What’s Next?

Fresnillo plc (LON:FRES)’s share price was down 5.6% during 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).

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Canaccord Genuity Group boosted their price objective 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. Berenberg Bank raised shares of Fresnillo to a “buy” rating and lifted 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, Royal Bank of Canada reiterated a “sector perform” rating and issued a GBX 880 ($11.68) target price on shares of Fresnillo in a report on Thursday, March 13th. 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of GBX 824 ($10.93).

Fresnillo Stock Performance

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 P/E ratio of 38.05, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. The company’s 50-day moving average is GBX 872.70 and its two-hundred day moving average is GBX 740.58.

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 paid a $0.68 dividend. This is an increase from Fresnillo’s previous dividend of $0.06. The ex-dividend date of this dividend is Thursday, April 17th. This represents a yield of 5.49%. Fresnillo’s dividend payout ratio is presently 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.