Fresnillo (LON:FRES) Shares Cross Above 200 Day Moving Average – Here’s Why

Fresnillo plc (LON:FRES) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 712.40 ($9.19) and traded as high as GBX 929 ($11.98). Fresnillo shares last traded at GBX 822.50 ($10.61), with a volume of 87,956,563 shares traded.

Analyst Ratings Changes

A number of brokerages recently commented on FRES. Berenberg Bank raised shares of Fresnillo to a “buy” rating and boosted their price objective for the stock from GBX 840 ($10.83) to GBX 1,020 ($13.15) in a research note on Thursday, March 6th. Canaccord Genuity Group upped their price objective on Fresnillo from GBX 760 ($9.80) to GBX 805 ($10.38) and gave the stock a “hold” rating in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a GBX 880 ($11.35) target price on shares of Fresnillo in a research note on Thursday, March 13th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Fresnillo has an average rating of “Hold” and an average price target of GBX 824 ($10.63).

Fresnillo Price Performance

The stock has a 50 day moving average price of GBX 822.95 and a two-hundred day moving average price of GBX 713.84. The firm has a market cap of £7.60 billion, a PE ratio of 30.65, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. The company has a quick ratio of 3.28, a current ratio of 5.88 and a debt-to-equity ratio of 23.55.

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