Fresnillo (LON:FRES) Sets New 52-Week High – Here’s What Happened

Fresnillo plc (LON:FRES) shares reached a new 52-week high during trading on Friday . The company traded as high as GBX 975 ($12.66) and last traded at GBX 973.50 ($12.64), with a volume of 5928453 shares. The stock had previously closed at GBX 923 ($11.98).

Analyst Ratings Changes

Several research firms have recently weighed in on FRES. Canaccord Genuity Group boosted their target price on Fresnillo from GBX 760 ($9.87) to GBX 805 ($10.45) and gave the company a “hold” rating in a report on Tuesday, February 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a GBX 880 ($11.42) price objective on shares of Fresnillo in a report on Thursday, March 13th. Finally, Berenberg Bank raised shares of Fresnillo to a “buy” rating and lifted their target price for the company from GBX 840 ($10.90) to GBX 1,020 ($13.24) in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of GBX 824 ($10.70).

Fresnillo Trading Up 4.4 %

The company has a fifty day moving average of GBX 845.16 and a two-hundred day moving average of GBX 726.16. The company has a quick ratio of 3.28, a current ratio of 5.88 and a debt-to-equity ratio of 23.55. The stock has a market capitalization of £8.90 billion, a price-to-earnings ratio of 35.91, a P/E/G ratio of -1.58 and a beta of 0.15.

Fresnillo Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, April 17th will be issued a $0.68 dividend. This is an increase from Fresnillo’s previous dividend of $0.06. The ex-dividend date is Thursday, April 17th. This represents a dividend yield of 5.49%. Fresnillo’s payout ratio is presently 29.82%.

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.