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

Fresnillo plc (LON:FRES) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 690.91 ($8.94) and traded as high as GBX 948.50 ($12.28). Fresnillo shares last traded at GBX 943 ($12.21), with a volume of 51,357,707 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FRES. Canaccord Genuity Group upped their target price on Fresnillo from GBX 760 ($9.84) to GBX 805 ($10.42) and gave the stock a “hold” rating in a research report on Tuesday, February 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a GBX 880 ($11.39) price objective on shares of Fresnillo in a research note on Thursday, March 13th. Finally, Berenberg Bank upgraded shares of Fresnillo to a “buy” rating and lifted their price objective for the company from GBX 840 ($10.88) to GBX 1,020 ($13.21) in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of GBX 824 ($10.67).

Fresnillo Price Performance

The firm has a market cap of £8.71 billion, a P/E ratio of 35.15, a P/E/G ratio of -1.58 and a beta of 0.15. The company has a fifty day moving average of GBX 783.88 and a 200-day moving average of GBX 690.91. The company has a debt-to-equity ratio of 23.55, a current ratio of 5.88 and a quick ratio of 3.28.

Fresnillo Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, April 17th will be paid a $0.68 dividend. This is a positive change from Fresnillo’s previous dividend of $0.06. The ex-dividend date of this dividend is Thursday, April 17th. This represents a dividend yield of 5.49%. Fresnillo’s dividend payout ratio is presently 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.