Citigroup Inc. Downgrades Fresnillo to Sell (FRES)
Fresnillo (LON:FRES) was downgraded by analysts at Citigroup Inc. from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, American Banking News reports. They currently have a GBX 911 ($14.70) target price on the stock, down from their previous target price of GBX 1,020 ($16.46). Citigroup Inc.’s price target would indicate a potential downside of 2.57% from the stock’s previous close.
A number of other analysts have also recently weighed in on FRES. Analysts at Merrill Lynch cut their price target on shares of Fresnillo (LON:FRES) from GBX 1,326 ($21.39) to GBX 1,300 ($20.97) in a research note to investors on Friday, September 27th. They now have a “neutral” rating on the stock. Separately, analysts at Bank of America Corp. reiterated a “neutral” rating on shares of Fresnillo (LON:FRES) in a research note to investors on Friday, September 27th. They now have a GBX 1,300 ($20.97) price target on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Fresnillo (LON:FRES) from GBX 970 ($15.65) to GBX 1,000 ($16.13) in a research note to investors on Thursday, September 26th. They now have a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of GBX 1,200.37 ($19.37).
Fresnillo (LON:FRES) traded up 1.14% during mid-day trading on Wednesday, hitting GBX 935.0001. The stock had a trading volume of 974,391 shares. Fresnillo has a 52-week low of GBX 846.00 and a 52-week high of GBX 2033.00. The stock has a 50-day moving average of GBX 1156. and a 200-day moving average of GBX 1155.. The company’s market cap is £6.890 billion.
Fresnillo plc is a silver and gold mining company. The Company, along with its subsidiaries, is engaged in the mining and beneficiation of non-ferrous minerals, and the sale of related production.
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