Fresnillo (LON:FRES) Hits New 52-Week High – Time to Buy?

Fresnillo plc (LON:FRES) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 4,358 and last traded at GBX 4,317.13, with a volume of 14554867 shares changing hands. The stock had previously closed at GBX 4,144.97.

Analysts Set New Price Targets

A number of equities analysts have commented on FRES shares. Canaccord Genuity Group boosted their target price on shares of Fresnillo from GBX 980 to GBX 2,440 and gave the stock a “hold” rating in a report on Friday, October 17th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 2,600 price target on shares of Fresnillo in a report on Tuesday, November 4th. Citigroup increased their price objective on Fresnillo from GBX 4,000 to GBX 4,600 and gave the company a “buy” rating in a report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. upped their target price on Fresnillo from GBX 4,300 to GBX 4,700 and gave the company a “neutral” rating in a research report on Monday, January 19th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Fresnillo has an average rating of “Hold” and a consensus price target of GBX 3,148.

Fresnillo Stock Performance

The company has a market cap of £32.11 billion, a price-to-earnings ratio of 70.52, a PEG ratio of -1.58 and a beta of 0.15. The firm’s 50 day simple moving average is GBX 3,128.33 and its 200-day simple moving average is GBX 2,388.11. The company has a debt-to-equity ratio of 23.55, a quick ratio of 3.28 and a current ratio of 5.88.

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.