Fresnillo (LON:FRES) Shares Down 5.6% – Here’s Why

Fresnillo plc (LON:FRES) dropped 5.6% during trading on Friday . The stock traded as low as GBX 1,007 ($13.36) and last traded at GBX 1,021 ($13.55). Approximately 1,248,325 shares changed 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 ($14.34).

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Berenberg Bank raised Fresnillo to a “buy” rating and upped their price target for the stock from GBX 840 ($11.15) to GBX 1,020 ($13.53) in a research report on Thursday, March 6th. Royal Bank of Canada restated a “sector perform” rating and set a GBX 880 ($11.68) price objective on shares of Fresnillo in a report on Thursday, March 13th. Finally, Canaccord Genuity Group lifted their target price on shares of Fresnillo from GBX 760 ($10.08) to GBX 805 ($10.68) and gave the stock a “hold” rating in a research note on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of GBX 824 ($10.93).

Fresnillo Price Performance

The stock has a fifty day moving average of GBX 872.70 and a 200 day moving average of GBX 740.58. The company has a debt-to-equity ratio of 23.55, a current ratio of 5.88 and a quick ratio of 3.28. The stock has a market cap of £9.43 billion, a price-to-earnings ratio of 38.05, a P/E/G ratio of -1.58 and a beta of 0.15.

Fresnillo Increases Dividend

The firm 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 an increase from Fresnillo’s previous dividend of $0.06. This represents a dividend yield of 5.49%. The ex-dividend date is Thursday, April 17th. Fresnillo’s dividend payout ratio is 29.82%.

Fresnillo Company Profile

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.