Fresnillo (OTCMKTS:FNLPF) Shares Gap Up – Still a Buy?

Fresnillo PLC (OTCMKTS:FNLPF) shares gapped up before the market opened on Thursday. The stock had previously closed at $30.44, but opened at $35.37. Fresnillo shares last traded at $35.37, with a volume of 134 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Scotiabank upgraded shares of Fresnillo from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 16th. Zacks Research upgraded Fresnillo from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Barclays cut shares of Fresnillo from an “equal weight” rating to a “strong sell” rating in a research report on Thursday, September 3rd. Finally, Jefferies Financial Group assumed coverage on Fresnillo in a report on Monday, August 3rd. They issued a “hold” rating for the company. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.

Fresnillo Stock Up 1.3%

The firm has a 50 day simple moving average of $37.23 and a 200 day simple moving average of $42.69. The company has a quick ratio of 5.59, a current ratio of 6.35 and a debt-to-equity ratio of 0.15.

About Fresnillo

Fresnillo plc is a Mexico-focused precious metals mining company that explores for, develops, and produces silver and gold. Its operations include underground and open-pit mines, processing facilities, and exploration projects, with production primarily consisting of silver-bearing concentrates, doré and related mineral products.

The company operates in Mexico, including the states of Zacatecas, Durango and Sonora. Its portfolio has included the Fresnillo, Saucito, San Julián, Ciénega and Herradura mines, as well as the Juanicipio silver-gold project, which Fresnillo operates in partnership with MAG Silver.