Fresnillo (LON:FRES) Reaches New 52-Week High – Should You Buy?

Fresnillo plc (LON:FRES) shares hit a new 52-week high during trading on Wednesday . The company traded as high as GBX 881.95 ($11.42) and last traded at GBX 881.95 ($11.42), with a volume of 1527952 shares changing hands. The stock had previously closed at GBX 854 ($11.06).

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FRES. Berenberg Bank upgraded shares of Fresnillo to a “buy” rating and upped their price target for the company from GBX 840 ($10.88) to GBX 1,020 ($13.21) in a research note on Thursday, March 6th. Royal Bank of Canada upped their price target on shares of Fresnillo from GBX 800 ($10.36) to GBX 810 ($10.49) and gave the company an “outperform” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Fresnillo in a report on Friday, November 22nd. Finally, Canaccord Genuity Group boosted their price objective on shares of Fresnillo from GBX 760 ($9.84) to GBX 805 ($10.42) and gave the company a “hold” rating in a report on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Fresnillo has an average rating of “Moderate Buy” and a consensus target price of GBX 810 ($10.49).

Fresnillo Price Performance

The business’s 50-day moving average is GBX 728.36 and its two-hundred day moving average is GBX 664.51. 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 company has a market capitalization of £8.14 billion, a P/E ratio of 32.86, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15.

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.