Fresnillo (LON:FRES) Sets New 52-Week High – Time to Buy?

Shares of Fresnillo plc (LON:FRES) reached a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 960.50 ($12.44) and last traded at GBX 956.75 ($12.39), with a volume of 5555584 shares. The stock had previously closed at GBX 947.50 ($12.27).

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a GBX 880 ($11.39) price target on shares of Fresnillo in a research report on Thursday, March 13th. Canaccord Genuity Group boosted their price target on Fresnillo from GBX 760 ($9.84) to GBX 805 ($10.42) and gave the stock a “hold” rating in a report on Tuesday, February 25th. Finally, Berenberg Bank raised shares of Fresnillo to a “buy” rating and increased their price objective for the company from GBX 840 ($10.88) to GBX 1,020 ($13.21) in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Fresnillo presently has an average rating of “Hold” and a consensus target price of GBX 824 ($10.67).

Fresnillo Price Performance

The company has a current ratio of 5.88, a quick ratio of 3.28 and a debt-to-equity ratio of 23.55. The firm’s 50-day moving average price is GBX 794.66 and its 200-day moving average price is GBX 696.27. The stock has a market capitalization of £8.83 billion, a PE ratio of 35.63, a PEG ratio of -1.58 and a beta of 0.15.

Fresnillo Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, April 17th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Thursday, April 17th. This is an increase from Fresnillo’s previous dividend of $0.06. This represents a yield of 5.49%. Fresnillo’s dividend payout ratio is 29.82%.

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.