Fresnillo (LON:FRES) Stock Price Down 10% – Here’s What Happened

Fresnillo plc (LON:FRES)’s share price dropped 10% during trading on Friday . The stock traded as low as GBX 3,287 and last traded at GBX 3,335. Approximately 1,590,592 shares changed hands during trading, a decline of 81% from the average daily volume of 8,314,937 shares. The stock had previously closed at GBX 3,707.

Wall Street Analysts Forecast Growth

FRES has been the subject of several recent research reports. Berenberg Bank reiterated a “hold” rating and set a GBX 3,400 target price on shares of Fresnillo in a research report on Thursday, April 23rd. Citigroup upped their target price on shares of Fresnillo from GBX 4,600 to GBX 5,000 and gave the company a “buy” rating in a research report on Monday, April 13th. Royal Bank Of Canada reiterated a “sector perform” rating and set a GBX 3,700 target price on shares of Fresnillo in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Fresnillo from GBX 5,500 to GBX 5,400 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of GBX 3,988.

Fresnillo Stock Down 9.6%

The firm’s 50-day simple moving average is GBX 3,452.43 and its 200 day simple moving average is GBX 3,307.69. The company has a market cap of £24.69 billion, a P/E ratio of 17.84, a PEG ratio of -1.58 and a beta of 0.75. The company has a debt-to-equity ratio of 18.37, a quick ratio of 3.28 and a current ratio of 4.35.

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.