Fresnillo (OTCMKTS:FNLPF) Shares Gap Up – Still a Buy?

Fresnillo PLC (OTCMKTS:FNLPF)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $39.53, but opened at $42.50. Fresnillo shares last traded at $43.87, with a volume of 1,097 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FNLPF. Scotiabank raised Fresnillo from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 16th. Zacks Research cut Fresnillo from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Finally, Jefferies Financial Group began coverage on shares of Fresnillo in a research note on Monday, August 3rd. They issued a “hold” rating on the stock. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce”.

Fresnillo Price Performance

The company has a quick ratio of 3.88, a current ratio of 4.35 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $37.30 and a two-hundred day simple moving average of $43.81.

About Fresnillo

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.