Fresnillo (LON:FRES) Sets New 12-Month High – Should You Buy?

Fresnillo plc (LON:FRES) reached a new 52-week high during trading on Friday . The stock traded as high as GBX 975 ($12.76) and last traded at GBX 973.50 ($12.74), with a volume of 5928453 shares changing hands. The stock had previously closed at GBX 923 ($12.08).

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FRES. Royal Bank of Canada reissued a “sector perform” rating and issued a GBX 880 ($11.52) target price on shares of Fresnillo in a research note on Thursday, March 13th. Canaccord Genuity Group lifted their price objective on shares of Fresnillo from GBX 760 ($9.95) to GBX 805 ($10.54) and gave the company a “hold” rating in a research report on Tuesday, February 25th. Finally, Berenberg Bank raised shares of Fresnillo to a “buy” rating and upped their target price for the company from GBX 840 ($10.99) to GBX 1,020 ($13.35) in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of GBX 824 ($10.79).

Fresnillo Stock Performance

The company has a quick ratio of 3.28, a current ratio of 5.88 and a debt-to-equity ratio of 23.55. The stock has a 50 day moving average price of GBX 850.55 and a two-hundred day moving average price of GBX 729.05. The company has a market cap of £9.08 billion, a P/E ratio of 36.63, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15.

Fresnillo Increases Dividend

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