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

Fresnillo plc (LON:FRES) shares traded down 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). 1,536,433 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 3,174,844 shares. The stock had previously closed at GBX 1,061 ($14.08).

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Berenberg Bank lifted their target price on Fresnillo from GBX 1,310 ($17.38) to GBX 1,320 ($17.51) and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a GBX 880 ($11.67) price objective on shares of Fresnillo in a research report on Thursday, March 13th. Finally, Canaccord Genuity Group increased their price objective on shares of 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.

Fresnillo Stock Up 1.7%

The stock has a market cap 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 firm has a 50 day simple moving average of GBX 961.11 and a two-hundred day simple moving average of GBX 788.79. 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 Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, April 17th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Thursday, April 17th. This is a positive change from Fresnillo’s previous dividend of $0.06. This represents a yield of 5.49%. Fresnillo’s payout ratio is currently 29.82%.

About Fresnillo

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.