Fresnillo (LON:FRES) Trading Down 5.6% – What’s Next?

Fresnillo plc (LON:FRES) dropped 5.6% during mid-day trading 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 changed hands 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).

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Canaccord Genuity Group boosted their price objective on 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. Berenberg Bank upgraded Fresnillo to a “buy” rating and increased their price target for the stock from GBX 840 ($11.17) to GBX 1,020 ($13.56) in a report on Thursday, March 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a GBX 880 ($11.70) price objective on shares of Fresnillo in a research report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Fresnillo currently has an average rating of “Hold” and an average target price of GBX 824 ($10.96).

Fresnillo Trading Down 5.6 %

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

Fresnillo Increases Dividend

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