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

Fresnillo plc (LON:FRES) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 2,611.83 and traded as high as GBX 3,996. Fresnillo shares last traded at GBX 3,768, with a volume of 60,715,535 shares.

Analysts Set New Price Targets

A number of equities analysts recently commented on FRES shares. Citigroup lifted their target price on shares of Fresnillo from GBX 4,000 to GBX 4,600 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Canaccord Genuity Group raised their price objective on Fresnillo from GBX 980 to GBX 2,440 and gave the company a “hold” rating in a research note on Friday, October 17th. Berenberg Bank cut Fresnillo to a “hold” rating and increased their target price for the company from GBX 3,400 to GBX 3,800 in a report on Thursday, February 5th. Finally, JPMorgan Chase & Co. cut their target price on shares of Fresnillo from GBX 4,700 to GBX 4,500 and set an “overweight” rating on the stock in a report on Monday, February 2nd. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Fresnillo currently has a consensus rating of “Hold” and an average price target of GBX 3,348.

Fresnillo Trading Up 0.4%

The firm has a market cap of £27.88 billion, a PE ratio of 61.23, a PEG ratio of -1.58 and a beta of 0.15. The firm has a fifty day simple moving average of GBX 3,513.48 and a two-hundred day simple moving average of GBX 2,611.83. The company has a current ratio of 5.88, a quick ratio of 3.28 and a debt-to-equity ratio of 23.55.

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.