Fresnillo (LON:FRES) Trading Down 5.6% – Should You Sell?

Fresnillo plc (LON:FRES) dropped 5.6% on Friday . The company traded as low as GBX 1,007 ($13.39) and last traded at GBX 1,021 ($13.58). 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 ($14.37).

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FRES. Royal Bank of Canada restated a “sector perform” rating and set a GBX 880 ($11.70) price objective on shares of Fresnillo in a research note on Thursday, March 13th. Berenberg Bank upgraded Fresnillo to a “buy” rating and raised their target price for the company from GBX 840 ($11.17) to GBX 1,020 ($13.56) in a research note on Thursday, March 6th. Finally, Canaccord Genuity Group increased their price objective on shares of Fresnillo from GBX 760 ($10.11) to GBX 805 ($10.70) and gave the stock a “hold” rating in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Fresnillo has a consensus rating of “Hold” and a consensus target price of GBX 824 ($10.96).

Fresnillo Stock Down 5.6 %

The firm has a market capitalization of £9.43 billion, a P/E ratio of 38.05, a PEG ratio of -1.58 and a beta of 0.15. The firm’s fifty day moving average price is GBX 877.31 and its 200-day moving average price is GBX 744.33. The company has a debt-to-equity ratio of 23.55, a current ratio of 5.88 and a quick ratio of 3.28.

Fresnillo Increases Dividend

The company also recently disclosed 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 a positive change 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 dividend payout ratio is 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.