Fresnillo (LON:FRES) Stock Price Down 5.6% – Here’s Why

Shares of Fresnillo plc (LON:FRES) were down 5.6% on Friday . The company traded as low as GBX 1,007 ($13.39) and last traded at GBX 1,021 ($13.58). Approximately 1,248,325 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 3,374,354 shares. The stock had previously closed at GBX 1,081 ($14.37).

Analyst Ratings Changes

A number of brokerages have recently issued reports on FRES. Canaccord Genuity Group boosted their target price on shares of Fresnillo from GBX 760 ($10.11) to GBX 805 ($10.70) and gave the company a “hold” rating in a research note on Tuesday, February 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a GBX 880 ($11.70) price objective on shares of Fresnillo in a research report on Thursday, March 13th. Finally, Berenberg Bank raised shares of Fresnillo to a “buy” rating and raised their target price for the stock from GBX 840 ($11.17) to GBX 1,020 ($13.56) in a research report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of GBX 824 ($10.96).

Fresnillo Stock Down 5.6 %

The business’s 50-day simple moving average is GBX 877.31 and its 200 day simple moving average is GBX 744.33. The firm has a market cap of £9.43 billion, a PE ratio of 38.05, a P/E/G ratio of -1.58 and a beta of 0.15. The company has a current ratio of 5.88, a quick ratio of 3.28 and a debt-to-equity ratio of 23.55.

Fresnillo Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, April 17th will be given a dividend of $0.68 per share. This represents a yield of 5.49%. The ex-dividend date is Thursday, April 17th. This is a boost from Fresnillo’s previous dividend of $0.06. Fresnillo’s dividend payout ratio (DPR) is 29.82%.

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.