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

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

Wall Street Analysts Forecast Growth

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

Fresnillo Trading Down 1.9%

The stock’s 50-day moving average is $39.50 and its 200 day moving average is $41.23. The company has a current ratio of 6.35, a quick ratio of 5.59 and a debt-to-equity ratio of 0.15.

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.