Fresnillo (OTCMKTS:FNLPF) Shares Gap Down – Should You Sell?

Shares of Fresnillo PLC (OTCMKTS:FNLPF) gapped down before the market opened on Wednesday. The stock had previously closed at $37.44, but opened at $35.40. Fresnillo shares last traded at $35.40, with a volume of 639 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FNLPF. Scotiabank raised Fresnillo from a “strong sell” rating to a “hold” rating in a report on Thursday, July 16th. Zacks Research upgraded Fresnillo from a “strong sell” rating to a “hold” rating in a research report on Monday. Barclays downgraded Fresnillo from an “equal weight” rating to a “strong sell” rating in a research note on Thursday, September 3rd. Finally, Jefferies Financial Group initiated coverage on Fresnillo in a research note on Monday, August 3rd. They set a “hold” rating for the company. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

Fresnillo Trading Up 1.1%

The company has a debt-to-equity ratio of 0.15, a current ratio of 6.35 and a quick ratio of 5.59. The company has a 50-day moving average price of $39.54 and a 200 day moving average price of $41.17.

About Fresnillo

Fresnillo plc (OTCMKTS:FNLPF) is a Mexico-based precious metals mining company focused on the exploration, development and production of silver and gold. The company is one of the world’s significant primary silver producers and also produces gold, lead and zinc as by-products of its mining operations.

Fresnillo operates a portfolio of mines and processing facilities in Mexico, including the Fresnillo, Saucito, Ciénega, Herradura, San Julián and Noche Buena mines. It also holds a majority interest in the Juanicipio silver-gold mine, which is operated in partnership with MAG Silver.