Fresnillo (LON:FRES) Shares Down 5.6% - Time to Sell?

Fresnillo plc (LON:FRES - Get Free Report) shares dropped 5.6% on Friday . The company traded as low as GBX 1,007 ($13.34) and last traded at GBX 1,021 ($13.53). Approximately 1,248,325 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 3,374,354 shares. The stock had previously closed at GBX 1,081 ($14.32).

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Royal Bank of Canada restated a "sector perform" rating and set a GBX 880 ($11.66) price objective on shares of Fresnillo in a report on Thursday, March 13th. Canaccord Genuity Group boosted their price target on Fresnillo from GBX 760 ($10.07) to GBX 805 ($10.67) and gave the company a "hold" rating in a report on Tuesday, February 25th. Finally, Berenberg Bank upgraded Fresnillo to a "buy" rating and increased their price objective for the stock from GBX 840 ($11.13) to GBX 1,020 ($13.52) in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of GBX 824 ($10.92).

Fresnillo Stock Performance

The stock has a market capitalization of £9.10 billion, a P/E ratio of 36.71, a P/E/G ratio of -1.58 and a beta of 0.15. The stock has a 50 day simple moving average of GBX 886.72 and a two-hundred day simple moving average of GBX 749.86. The company has a quick ratio of 3.28, a current ratio of 5.88 and a debt-to-equity ratio of 23.55.

Fresnillo Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, May 30th. Shareholders 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. This represents a yield of 5.49%. The ex-dividend date of this dividend is Thursday, April 17th. Fresnillo's dividend payout ratio is 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.