Fresnillo (LON:FRES) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Fresnillo plc (LON:FRES)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,698.82 and traded as high as GBX 2,368. Fresnillo shares last traded at GBX 2,302, with a volume of 904,351 shares changing hands.

Analyst Ratings Changes

FRES has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target on Fresnillo from GBX 1,850 to GBX 2,100 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Canaccord Genuity Group lifted their target price on Fresnillo from GBX 980 to GBX 2,440 and gave the stock a “hold” rating in a report on Friday, October 17th. Berenberg Bank reissued a “buy” rating and set a GBX 2,600 target price on shares of Fresnillo in a research report on Tuesday, November 4th. Finally, Royal Bank Of Canada raised their price target on Fresnillo from GBX 1,200 to GBX 1,400 and gave the stock a “sector perform” rating in a research report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 2,048.

Fresnillo Stock Up 1.2%

The firm has a market cap of £17.16 billion, a PE ratio of 37.68, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. The company has a 50-day simple moving average of GBX 2,270.77 and a 200-day simple moving average of GBX 1,698.82. The company has a debt-to-equity ratio of 23.55, a current ratio of 5.88 and a quick ratio of 3.28.

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.