Fresnillo (LON:FRES) Shares Pass Above 200-Day Moving Average – What’s Next?

Fresnillo plc (LON:FRES)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 3,240.35 and traded as high as GBX 3,266. Fresnillo shares last traded at GBX 3,115, with a volume of 745,522 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FRES. Berenberg Bank reissued a “hold” rating and set a GBX 3,400 target price on shares of Fresnillo in a report on Thursday, April 23rd. Royal Bank Of Canada reissued a “sector perform” rating and issued a GBX 3,700 price objective on shares of Fresnillo in a report on Monday, April 27th. JPMorgan Chase & Co. lowered their target price on Fresnillo from GBX 5,500 to GBX 5,400 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Finally, Citigroup upped their target price on Fresnillo from GBX 4,600 to GBX 5,000 and gave the stock a “buy” rating in a research note on Monday, April 13th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of GBX 3,988.

Fresnillo Stock Up 5.2%

The company has a market cap of £24.16 billion, a price-to-earnings ratio of 17.45, a PEG ratio of -1.58 and a beta of 0.75. The company has a current ratio of 4.35, a quick ratio of 3.28 and a debt-to-equity ratio of 18.37. The business has a fifty day moving average of GBX 3,525.21 and a two-hundred day moving average of GBX 3,240.35.

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.