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

Shares of Fresnillo plc (LON:FRES - Get Free Report) traded down 5.6% during trading on Friday . The stock traded as low as GBX 1,007 ($13.36) and last traded at GBX 1,021 ($13.55). 1,248,325 shares were traded during mid-day trading, a decline of 63% from the average session volume of 3,374,354 shares. The stock had previously closed at GBX 1,081 ($14.35).

Wall Street Analyst Weigh In

FRES has been the subject of a number of research analyst reports. Canaccord Genuity Group raised their price objective on Fresnillo from GBX 760 ($10.09) to GBX 805 ($10.68) and gave the company a "hold" rating in a research report on Tuesday, February 25th. Berenberg Bank upgraded Fresnillo to a "buy" rating and lifted their price target for the stock from GBX 840 ($11.15) to GBX 1,020 ($13.54) in a research report on Thursday, March 6th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a GBX 880 ($11.68) target price 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 issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of GBX 824 ($10.94).

Fresnillo Stock Performance

The company has a market cap of £9.10 billion, a P/E ratio of 36.71, a PEG ratio of -1.58 and a beta of 0.15. 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 firm has a 50 day moving average of GBX 890.45 and a 200-day moving average of GBX 751.47.

Fresnillo Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, April 17th will be issued a $0.68 dividend. The ex-dividend date is Thursday, April 17th. This represents a dividend yield of 5.49%. This is a positive change from Fresnillo's previous dividend of $0.06. Fresnillo's payout ratio is currently 29.82%.

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.