Fresnillo (OTCMKTS:FNLPF) Shares Gap Up – Here’s Why

Shares of Fresnillo PLC (OTCMKTS:FNLPF) gapped up before the market opened on Wednesday . The stock had previously closed at $47.9595, but opened at $50.39. Fresnillo shares last traded at $49.00, with a volume of 2,840 shares trading hands.

Analysts Set New Price Targets

FNLPF has been the subject of several research analyst reports. Citigroup reiterated a “buy” rating on shares of Fresnillo in a research report on Wednesday, January 14th. Morgan Stanley restated an “underweight” rating on shares of Fresnillo in a research note on Monday, January 12th. Berenberg Bank cut Fresnillo from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Finally, Zacks Research upgraded shares of Fresnillo from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold”.

Fresnillo Stock Performance

The company has a current ratio of 5.09, a quick ratio of 4.34 and a debt-to-equity ratio of 0.20. The firm has a fifty day simple moving average of $51.77 and a 200-day simple moving average of $39.38.

Fresnillo Company Profile

Fresnillo plc is a precious metals mining company focused on the production, exploration and development of silver and gold. The company is widely recognized as a leading primary silver producer and a significant gold producer, operating in the mining sector with activities that span underground and open-pit mining, mineral processing and concentrator operations. Fresnillo’s business centers on bringing mined ore through processing to produce saleable precious metal products for industrial and investment markets.

Operationally, the company manages a portfolio of producing mines and development projects, with exploration programs intended to extend mine life and expand resource bases.