Berenberg Bank Forecasts Strong Price Appreciation for Fresnillo (LON:FRES) Stock

Fresnillo (LON:FRES - Get Free Report) had its price target hoisted by Berenberg Bank from GBX 1,310 ($17.60) to GBX 1,320 ($17.73) in a research note issued on Wednesday, Marketbeat.com reports. The brokerage presently has a "buy" rating on the stock. Berenberg Bank's target price would suggest a potential upside of 32.26% from the company's previous close.

A number of other analysts also recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of Fresnillo from GBX 805 ($10.82) to GBX 980 ($13.17) and gave the stock a "hold" rating in a report on Thursday. Royal Bank of Canada reiterated a "sector perform" rating and issued a GBX 880 ($11.82) price target on shares of Fresnillo in a research note on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of GBX 919 ($12.35).

Fresnillo Price Performance

Shares of LON:FRES traded up GBX 15.50 ($0.21) during trading on Wednesday, reaching GBX 998 ($13.41). 574,987 shares of the company traded hands, compared to its average volume of 3,324,191. The firm has a market capitalization of £9.22 billion, a PE ratio of 37.20, a PEG ratio of -1.58 and a beta of 0.15. Fresnillo has a 52 week low of GBX 497 ($6.68) and a 52 week high of GBX 1,093 ($14.68). 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's 50 day moving average is GBX 898.81 and its two-hundred day moving average is GBX 758.38.

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.