Fresnillo (LON:FRES) Reaches New 12-Month High – Time to Buy?

Fresnillo plc (LON:FRES) reached a new 52-week high on Tuesday . The company traded as high as GBX 938 ($12.18) and last traded at GBX 938 ($12.18), with a volume of 1289048 shares changing hands. The stock had previously closed at GBX 916.50 ($11.90).

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FRES. Canaccord Genuity Group raised their price target on Fresnillo from GBX 760 ($9.87) to GBX 805 ($10.46) and gave the stock a “hold” rating in a research report on Tuesday, February 25th. Berenberg Bank upgraded shares of Fresnillo to a “buy” rating and raised their target price for the stock from GBX 840 ($10.91) to GBX 1,020 ($13.25) in a report on Thursday, March 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a GBX 880 ($11.43) price target on shares of Fresnillo in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of Fresnillo in a research report on Friday, November 22nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of GBX 824 ($10.70).

Fresnillo Price Performance

The company has a debt-to-equity ratio of 23.55, a current ratio of 5.88 and a quick ratio of 3.28. The business has a 50 day moving average of GBX 750.02 and a 200 day moving average of GBX 675.71. The company has a market cap of £8.66 billion, a PE ratio of 34.96, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15.

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.