Fresnillo (LON:FRES) Share Price Passes Above 200 Day Moving Average – What’s Next?

Fresnillo plc (LON:FRES)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 3,296.86 and traded as high as GBX 3,863. Fresnillo shares last traded at GBX 3,784, with a volume of 1,175,968 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently commented on FRES. JPMorgan Chase & Co. lowered their price target on shares of Fresnillo from GBX 5,500 to GBX 5,400 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a GBX 3,700 price target on shares of Fresnillo in a report on Monday, April 27th. Citigroup increased their price target on shares of Fresnillo from GBX 4,600 to GBX 5,000 and gave the company a “buy” rating in a report on Monday, April 13th. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a GBX 3,400 price target on shares of Fresnillo in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of GBX 3,988.

Fresnillo Stock Down 9.6%

The company’s fifty day moving average price is GBX 3,452.43 and its 200-day moving average price is GBX 3,307.69. The stock has a market cap of £24.69 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of -1.58 and a beta of 0.75. The company has a debt-to-equity ratio of 18.37, a quick ratio of 3.28 and a current ratio of 4.35.

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.