Fresnillo (LON:FRES) Share Price Passes Above 200-Day Moving Average - What's Next?

Fresnillo plc (LON:FRES - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 690.91 ($8.94) and traded as high as GBX 948.50 ($12.28). Fresnillo shares last traded at GBX 943 ($12.21), with a volume of 51,357,707 shares.

Wall Street Analysts Forecast Growth

FRES has been the subject of a number of research reports. Berenberg Bank raised Fresnillo to a "buy" rating and boosted their price target for the company from GBX 840 ($10.87) to GBX 1,020 ($13.20) in a research report on Thursday, March 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a GBX 880 ($11.39) price objective on shares of Fresnillo in a research note on Thursday, March 13th. Finally, Canaccord Genuity Group increased their target price on shares of Fresnillo from GBX 760 ($9.84) to GBX 805 ($10.42) and gave the stock a "hold" rating in a research report on Tuesday, February 25th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of GBX 824 ($10.67).

Fresnillo Stock Performance

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 cap of £8.73 billion, a price-to-earnings ratio of 35.22, a PEG ratio of -1.58 and a beta of 0.15. The stock has a 50 day simple moving average of GBX 800.24 and a 200 day simple moving average of GBX 700.06.

Remove Ads

Fresnillo Increases Dividend

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