Fresnillo (LON:FRES) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Fresnillo plc (LON:FRES) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 1,698.82 and traded as high as GBX 2,368. Fresnillo shares last traded at GBX 2,302, with a volume of 904,351 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FRES shares. Canaccord Genuity Group boosted their price objective on shares of Fresnillo from GBX 980 to GBX 2,440 and gave the company a “hold” rating in a research report on Friday, October 17th. Royal Bank Of Canada lifted their price target on shares of Fresnillo from GBX 1,200 to GBX 1,400 and gave the company a “sector perform” rating in a research note on Monday, August 11th. JPMorgan Chase & Co. boosted their price target on Fresnillo from GBX 1,850 to GBX 2,100 and gave the company an “overweight” rating in a report on Thursday, August 7th. Finally, Berenberg Bank reissued a “buy” rating and issued a GBX 2,600 price objective on shares of Fresnillo in a research note on Tuesday, November 4th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 2,048.

Fresnillo Trading Up 1.2%

The company has a debt-to-equity ratio of 23.55, a quick ratio of 3.28 and a current ratio of 5.88. The company has a market capitalization of £17.16 billion, a P/E ratio of 37.68, a PEG ratio of -1.58 and a beta of 0.15. The company’s fifty day simple moving average is GBX 2,270.77 and its 200-day simple moving average is GBX 1,698.82.

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.