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

Fresnillo plc (LON:FRES)’s stock price 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 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).

Analyst Ratings Changes

Several research firms have weighed in on FRES. Berenberg Bank upgraded shares of Fresnillo to a “buy” rating and upped their price objective for the stock from GBX 840 ($11.17) to GBX 1,020 ($13.56) in a report on Thursday, March 6th. Canaccord Genuity Group lifted their price target on Fresnillo from GBX 760 ($10.11) to GBX 805 ($10.70) and gave the company a “hold” rating in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a GBX 880 ($11.70) price objective on shares of Fresnillo in a research note on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of GBX 824 ($10.96).

Fresnillo Trading Down 5.6 %

The stock has a market cap of £9.43 billion, a PE ratio of 38.05, a PEG ratio of -1.58 and a beta of 0.15. The company has a current ratio of 5.88, a quick ratio of 3.28 and a debt-to-equity ratio of 23.55. The firm has a fifty day simple moving average of GBX 877.31 and a two-hundred day simple moving average of GBX 744.33.

Fresnillo Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, April 17th will be given 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 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.