Fresnillo (OTCMKTS:FNLPF) Shares Gap Down – Here’s Why

Shares of Fresnillo PLC (OTCMKTS:FNLPF) gapped down before the market opened on Monday . The stock had previously closed at $35.54, but opened at $33.76. Fresnillo shares last traded at $34.61, with a volume of 601 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have commented on FNLPF shares. Zacks Research downgraded Fresnillo from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Scotiabank upgraded shares of Fresnillo from a “strong sell” rating to a “hold” rating in a report on Thursday, July 16th. Jefferies Financial Group assumed coverage on shares of Fresnillo in a research report on Monday. They issued a “hold” rating on the stock. Finally, Citigroup reaffirmed a “buy” rating on shares of Fresnillo in a research note on Monday, April 13th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold”.

Fresnillo Stock Up 0.4%

The company has a quick ratio of 3.88, a current ratio of 4.35 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average price of $38.24 and a two-hundred day moving average price of $45.22.

About Fresnillo

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.