Fresnillo (OTCMKTS:FNLPF) Shares Down 7% After Analyst Downgrade

Fresnillo PLC (OTCMKTS:FNLPF)’s stock price was down 7% during mid-day trading on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $42.98 and last traded at $42.98. Approximately 875 shares traded hands during trading, a decline of 95% from the average daily volume of 18,250 shares. The stock had previously closed at $46.21.

A number of other research firms also recently issued reports on FNLPF. Morgan Stanley reiterated an “underweight” rating on shares of Fresnillo in a report on Monday, January 12th. Citigroup reiterated a “buy” rating on shares of Fresnillo in a report on Monday, April 13th. Finally, Berenberg Bank downgraded Fresnillo from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Fresnillo presently has an average rating of “Reduce”.

Fresnillo Stock Up 4.3%

The firm has a 50-day moving average of $47.58 and a 200 day moving average of $43.35. The company has a current ratio of 4.35, a quick ratio of 3.88 and a debt-to-equity ratio of 0.17.

Fresnillo Company Profile

Fresnillo plc is a precious metals mining company focused on the production, exploration and development of silver and gold. The company is widely recognized as a leading primary silver producer and a significant gold producer, operating in the mining sector with activities that span underground and open-pit mining, mineral processing and concentrator operations. Fresnillo’s business centers on bringing mined ore through processing to produce saleable precious metal products for industrial and investment markets.

Operationally, the company manages a portfolio of producing mines and development projects, with exploration programs intended to extend mine life and expand resource bases.