Fresnillo (LON:FRES) Stock Passes Above 200 Day Moving Average – Time to Sell?

Fresnillo plc (LON:FRES)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 2,611.83 and traded as high as GBX 3,996. Fresnillo shares last traded at GBX 3,768, with a volume of 60,715,535 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FRES shares. Citigroup upped their price objective on shares of Fresnillo from GBX 4,000 to GBX 4,600 and gave the company a “buy” rating in a research note on Wednesday, January 14th. Berenberg Bank downgraded Fresnillo to a “hold” rating and increased their price target for the stock from GBX 3,400 to GBX 3,800 in a report on Thursday, February 5th. JPMorgan Chase & Co. dropped their price objective on Fresnillo from GBX 4,700 to GBX 4,500 and set an “overweight” rating on the stock in a research note on Monday, February 2nd. Finally, Canaccord Genuity Group upped their target price on Fresnillo from GBX 980 to GBX 2,440 and gave the company a “hold” rating in a research report on Friday, October 17th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of GBX 3,348.

Fresnillo Stock Up 2.4%

The stock has a market cap of £28.43 billion, a price-to-earnings ratio of 62.43, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. The firm’s fifty day moving average price is GBX 3,536.14 and its two-hundred day moving average price is GBX 2,628.92. The company has a debt-to-equity ratio of 23.55, a current ratio of 5.88 and a quick ratio of 3.28.

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.