Fresnillo (LON:FRES) Stock Price Down 5.8% – Here’s Why

Fresnillo plc (LON:FRES)’s share price dropped 5.8% during trading on Tuesday . The company traded as low as GBX 998 ($13.24) and last traded at GBX 999.50 ($13.26). Approximately 1,536,433 shares changed hands during trading, a decline of 52% from the average daily volume of 3,174,844 shares. The stock had previously closed at GBX 1,061 ($14.08).

Analyst Upgrades and Downgrades

A number of research firms recently commented on FRES. Canaccord Genuity Group upped their price objective on Fresnillo from GBX 805 ($10.68) to GBX 980 ($13.00) and gave the company a “hold” rating in a report on Thursday, April 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a GBX 880 ($11.67) target price on shares of Fresnillo in a report on Thursday, March 13th. Finally, Berenberg Bank increased their price objective on shares of Fresnillo from GBX 1,310 ($17.38) to GBX 1,320 ($17.51) and gave the company a “buy” rating in a research report on Wednesday, April 23rd.

Fresnillo Trading Up 1.7%

The stock has a market capitalization of £9.22 billion, a price-to-earnings ratio of 37.21, a price-to-earnings-growth 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 business has a 50 day simple moving average of GBX 961.11 and a 200-day simple moving average of GBX 788.79.

Fresnillo Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, April 17th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Thursday, April 17th. This is an increase from Fresnillo’s previous dividend of $0.06. This represents a dividend yield of 5.49%. Fresnillo’s dividend payout ratio (DPR) 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.