Fresnillo (LON:FRES) Shares Down 12.2% – Here’s Why

Fresnillo plc (LON:FRES)’s share price was down 12.2% during mid-day trading on Wednesday . The stock traded as low as GBX 2,000 ($26.74) and last traded at GBX 2,114 ($28.27). Approximately 2,780,052 shares traded hands during trading, a decline of 14% from the average daily volume of 3,248,329 shares. The stock had previously closed at GBX 2,408 ($32.20).

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FRES shares. Royal Bank Of Canada raised their price objective on shares of Fresnillo from GBX 1,200 to GBX 1,400 and gave the stock a “sector perform” rating in a research report on Monday, August 11th. Berenberg Bank increased their target price on shares of Fresnillo from GBX 1,700 to GBX 2,600 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Canaccord Genuity Group increased their target price on shares of Fresnillo from GBX 980 to GBX 2,440 and gave the stock a “hold” rating in a research note on Friday, October 17th. Citigroup increased their target price on shares of Fresnillo from GBX 1,300 to GBX 1,700 and gave the stock a “buy” rating in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of Fresnillo from GBX 1,850 to GBX 2,100 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of GBX 2,048.

Fresnillo Trading Up 0.7%

The company’s 50 day moving average price is GBX 2,124.68 and its 200 day moving average price is GBX 1,559.36. The company has a debt-to-equity ratio of 23.55, a current ratio of 5.88 and a quick ratio of 3.28. The firm has a market cap of £15.68 billion, a PE ratio of 34.43, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15.

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.