Fresnillo (FRES) Trading 8.7% Higher

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Fresnillo Plc (LON:FRES)’s share price traded up 8.7% on Thursday . The company traded as high as GBX 849.40 ($11.10) and last traded at GBX 839 ($10.96). 3,209,654 shares changed hands during trading, an increase of 155% from the average session volume of 1,260,000 shares. The stock had previously closed at GBX 772.20 ($10.09).

A number of equities analysts have weighed in on the company. Barclays reduced their price objective on Fresnillo from GBX 1,200 ($15.68) to GBX 1,000 ($13.07) and set an “equal weight” rating for the company in a research note on Friday. UBS Group reiterated a “neutral” rating and set a GBX 900 ($11.76) price objective (down previously from GBX 1,200 ($15.68)) on shares of Fresnillo in a research note on Thursday, September 27th. Royal Bank of Canada upgraded Fresnillo to a “top pick” rating and raised their target price for the company from GBX 1,200 ($15.68) to GBX 1,300 ($16.99) in a research report on Tuesday, September 18th. Morgan Stanley dropped their target price on Fresnillo from GBX 1,330 ($17.38) to GBX 1,200 ($15.68) and set an “equal weight” rating on the stock in a research report on Tuesday, August 14th. Finally, JPMorgan Chase & Co. dropped their target price on Fresnillo from GBX 1,300 ($16.99) to GBX 1,250 ($16.33) and set a “neutral” rating on the stock in a research report on Wednesday, August 8th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of GBX 1,306.82 ($17.08).

About Fresnillo (LON:FRES)

Fresnillo plc mines, develops, and produces non-ferrous minerals in Mexico. It primarily explores for silver, gold, lead, and zinc concentrates. The company's operating mines include the Fresnillo, Saucito, Ciénega, Herradura, Noche Buena, and San Julián; development projects comprise the Pyrites Plant, and second line of the DLP at Herradura; and advanced exploration projects consist of the Orisyvo, Juanicipio, Las Casas Rosario and Cluster Cebollitas, and Centauro Deep, as well as various other long term exploration prospects.

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