Fresnillo (LON:FRES) Stock Price Down 5.6% – Here’s What Happened

Shares of Fresnillo plc (LON:FRES) dropped 5.6% during trading 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 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 ($14.37).

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FRES shares. Berenberg Bank upgraded shares of Fresnillo to a “buy” rating and boosted their price target for the company from GBX 840 ($11.17) to GBX 1,020 ($13.56) in a report on Thursday, March 6th. Canaccord Genuity Group raised their target price on Fresnillo from GBX 760 ($10.11) to GBX 805 ($10.70) and gave the stock a “hold” rating in a research report 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of GBX 824 ($10.96).

Fresnillo Price Performance

The company has a market capitalization of £9.43 billion, a PE ratio of 38.05, a P/E/G ratio of -1.58 and a beta of 0.15. The stock has a 50 day moving average price of GBX 877.31 and a two-hundred day moving average price of GBX 744.33. The company has a debt-to-equity ratio of 23.55, a quick ratio of 3.28 and a current ratio of 5.88.

Fresnillo Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, April 17th will be issued a dividend of $0.68 per share. The ex-dividend date is Thursday, April 17th. This represents a dividend yield of 5.49%. This is an increase from Fresnillo’s previous dividend of $0.06. Fresnillo’s dividend payout ratio (DPR) is currently 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.