Fresnillo (LON:FRES) Hits New 1-Year High – Time to Buy?

Fresnillo plc (LON:FRES) shares hit a new 52-week high during trading on Tuesday . The company traded as high as GBX 938 ($12.20) and last traded at GBX 938 ($12.20), with a volume of 1289048 shares trading hands. The stock had previously closed at GBX 916.50 ($11.92).

Analysts Set New Price Targets

Several research firms have issued reports on FRES. Canaccord Genuity Group lifted their price objective on Fresnillo from GBX 760 ($9.89) to GBX 805 ($10.47) and gave the stock a “hold” rating in a report on Tuesday, February 25th. Berenberg Bank upgraded shares of Fresnillo to a “buy” rating and lifted their price target for the stock from GBX 840 ($10.93) to GBX 1,020 ($13.27) in a research note on Thursday, March 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a GBX 880 ($11.45) price target on shares of Fresnillo in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of Fresnillo in a report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Fresnillo currently has an average rating of “Hold” and an average price target of GBX 824 ($10.72).

Fresnillo Trading Down 1.0 %

The firm’s 50 day simple moving average is GBX 762.08 and its two-hundred day simple moving average is GBX 680.36. 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 stock has a market cap of £8.72 billion, a P/E ratio of 35.18, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15.

Fresnillo Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 30th. Shareholders 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 boost from Fresnillo’s previous dividend of $0.06. Fresnillo’s dividend payout ratio (DPR) 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.