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

Fresnillo plc (LON:FRES) traded 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). 1,248,325 shares were traded during mid-day trading, a decline of 63% from the average session volume of 3,374,354 shares. The stock had previously closed at GBX 1,081 ($14.34).

Wall Street Analyst Weigh In

Several research analysts have recently commented on FRES shares. 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 raised Fresnillo to a “buy” rating and lifted their target price for the company from GBX 840 ($11.15) to GBX 1,020 ($13.53) in a research report on Thursday, March 6th. Finally, Canaccord Genuity Group boosted their price target on shares of Fresnillo from GBX 760 ($10.08) to GBX 805 ($10.68) and gave the stock a “hold” rating in a research note 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of GBX 824 ($10.93).

Fresnillo Stock Down 5.6 %

The firm has a market cap of £9.43 billion, a PE ratio of 38.05, a PEG ratio of -1.58 and a beta of 0.15. The company has a current ratio of 5.88, a quick ratio of 3.28 and a debt-to-equity ratio of 23.55. The firm has a 50 day moving average price of GBX 872.70 and a 200-day moving average price of GBX 740.58.

Fresnillo Increases Dividend

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