Fresnillo (LON:FRES) Trading Down 12.2% – Here’s What Happened

Shares of Fresnillo plc (LON:FRES) fell 12.2% during trading on Wednesday . The company traded as low as GBX 2,000 ($26.66) and last traded at GBX 2,114 ($28.18). 2,780,052 shares were traded during trading, a decline of 14% from the average session volume of 3,248,329 shares. The stock had previously closed at GBX 2,408 ($32.10).

Wall Street Analyst Weigh In

A number of brokerages have commented on FRES. Canaccord Genuity Group lifted their target price on shares of Fresnillo from GBX 980 to GBX 2,440 and gave the stock a “hold” rating in a research note on Friday, October 17th. Royal Bank Of Canada lifted their price target on shares of Fresnillo from GBX 1,200 to GBX 1,400 and gave the company a “sector perform” rating in a research report on Monday, August 11th. Citigroup lifted their price target on shares of Fresnillo from GBX 1,300 to GBX 1,700 and gave the company a “buy” rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. lifted their price target on shares of Fresnillo from GBX 1,850 to GBX 2,100 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Finally, Berenberg Bank lifted their price target on shares of Fresnillo from GBX 1,700 to GBX 2,600 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 2,048.

Fresnillo Stock Down 2.3%

The business’s 50 day moving average is GBX 2,143.35 and its 200-day moving average is GBX 1,572.68. 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 has a market cap of £15.76 billion, a PE ratio of 34.61, a P/E/G ratio of -1.58 and a beta of 0.15.

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.