Fresnillo (LON:FRES) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Shares of Fresnillo plc (LON:FRES) passed 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.

Wall Street Analyst Weigh In

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

Fresnillo Stock Performance

The company has a debt-to-equity ratio of 23.55, a quick ratio of 3.28 and a current ratio of 5.88. The stock has a market cap of £8.72 billion, a PE ratio of 35.20, a P/E/G ratio of -1.58 and a beta of 0.15. The business’s fifty day moving average price is GBX 794.66 and its 200-day moving average price is GBX 696.27.

Fresnillo Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, April 17th will be given a dividend of $0.68 per share. 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 (DPR) 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.