Fresnillo (OTCMKTS:FNLPF) Shares Gap Up – Time to Buy?

Fresnillo PLC (OTCMKTS:FNLPF) gapped up prior to trading 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 trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FNLPF. Zacks Research raised shares of Fresnillo from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Scotiabank raised shares of Fresnillo from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 16th. 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 assumed coverage on Fresnillo in a research report on Monday, August 3rd. They set a “hold” rating for the company. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Fresnillo presently has an average rating of “Reduce”.

Fresnillo Stock Performance

The firm has a 50 day moving average price of $36.85 and a two-hundred day moving average price of $42.51. 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 operates mines. Its principal products are silver and gold, with lead and zinc also recovered as by-products at some operations.

The company’s operating portfolio includes mines and processing facilities in several Mexican states, including operations in Zacatecas, Sonora, Chihuahua and Durango. Fresnillo also conducts exploration and development work to identify and advance mineral deposits, and has a joint venture interest in the Juanicipio mine in Zacatecas.

Fresnillo’s roots are in the mining business of Industrias Peñoles, from which it was separated and listed as an independent company in 2008.