Fresnillo (LON:FRES) Trading Down 5.6% - Here's Why

Fresnillo plc (LON:FRES - Get Free Report)'s stock price dropped 5.6% on Friday . The stock traded as low as GBX 1,007 ($13.34) and last traded at GBX 1,021 ($13.53). Approximately 1,248,325 shares were traded during 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).

Wall Street Analyst Weigh In

FRES has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a GBX 880 ($11.66) price target on shares of Fresnillo in a research report on Thursday, March 13th. Berenberg Bank raised Fresnillo to a "buy" rating and raised their target price for the company from GBX 840 ($11.13) to GBX 1,020 ($13.52) in a research report on Thursday, March 6th. Finally, Canaccord Genuity Group lifted their target price on Fresnillo from GBX 760 ($10.07) to GBX 805 ($10.67) and gave the stock a "hold" rating in a research note on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of GBX 824 ($10.92).

Fresnillo Stock Down 5.2 %

The firm has a market capitalization of £9.10 billion, a PE 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 200-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 disclosed a dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, April 17th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a yield of 5.49%. This is a positive change from Fresnillo's previous dividend of $0.06. Fresnillo's dividend payout ratio (DPR) 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.