Fresnillo (LON:FRES) Shares Down 5.6% – Time to Sell?

Fresnillo plc (LON:FRES)’s share price was down 5.6% during mid-day trading on Friday . The stock traded as low as GBX 1,007 ($13.36) and last traded at GBX 1,021 ($13.55). Approximately 1,248,325 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 3,374,354 shares. The stock had previously closed at GBX 1,081 ($14.34).

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FRES. Canaccord Genuity Group increased their price objective on Fresnillo from GBX 760 ($10.08) to GBX 805 ($10.68) and gave the company a “hold” rating in a research report on Tuesday, February 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a GBX 880 ($11.68) target price on shares of Fresnillo in a research report on Thursday, March 13th. Finally, Berenberg Bank upgraded Fresnillo to a “buy” rating and increased their price target for the company from GBX 840 ($11.15) to GBX 1,020 ($13.53) in a research report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of GBX 824 ($10.93).

Fresnillo Stock Down 5.6 %

The company has a debt-to-equity ratio of 23.55, a quick ratio of 3.28 and a current ratio of 5.88. The stock has a market cap of £9.43 billion, a price-to-earnings ratio of 38.05, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. The business’s 50 day moving average is GBX 872.70 and its 200 day moving average is GBX 740.58.

Fresnillo Increases Dividend

The firm 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. The ex-dividend date of this dividend is Thursday, April 17th. This represents a dividend yield of 5.49%. This is a positive change from Fresnillo’s previous dividend of $0.06. Fresnillo’s dividend payout ratio is presently 29.82%.

Fresnillo Company Profile

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.