Fresnillo (LON:FRES) Shares Cross Above 200-Day Moving Average – Should You Sell?

Fresnillo plc (LON:FRES)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 712.40 ($9.19) and traded as high as GBX 929 ($11.98). Fresnillo shares last traded at GBX 822.50 ($10.61), with a volume of 87,956,563 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a GBX 880 ($11.35) price objective on shares of Fresnillo in a report on Thursday, March 13th. Berenberg Bank upgraded Fresnillo to a “buy” rating and lifted their price target for the stock from GBX 840 ($10.83) to GBX 1,020 ($13.15) in a report on Thursday, March 6th. Finally, Canaccord Genuity Group raised their price objective on shares of Fresnillo from GBX 760 ($9.80) to GBX 805 ($10.38) and gave the stock a “hold” rating in a research report on Tuesday, February 25th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of GBX 824 ($10.63).

Fresnillo Stock 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 company has a market capitalization of £7.60 billion, a price-to-earnings ratio of 30.65, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. The stock’s fifty day simple moving average is GBX 822.95 and its 200-day simple moving average is GBX 713.84.

Fresnillo Increases Dividend

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