Fresnillo (OTCMKTS:FNLPF) Stock Price Down 5.8% – Here’s Why

Fresnillo PLC (OTCMKTS:FNLPF)’s stock price dropped 5.8% during trading on Wednesday. The company traded as low as $34.56 and last traded at $34.56. 2,568 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 11,067 shares. The stock had previously closed at $36.70.

Wall Street Analysts Forecast Growth

FNLPF has been the subject of several recent analyst reports. Barclays cut Fresnillo from an “equal weight” rating to a “strong sell” rating in a report on Thursday, September 3rd. Jefferies Financial Group began coverage on shares of Fresnillo in a report on Monday, August 3rd. They set a “hold” rating on the stock. Scotiabank raised shares of Fresnillo from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 16th. Finally, Zacks Research upgraded shares of Fresnillo from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Fresnillo presently has a consensus rating of “Reduce”.

Fresnillo Stock Down 5.8%

The company has a quick ratio of 5.59, a current ratio of 6.35 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $39.37 and a two-hundred day moving average price of $40.75.

About Fresnillo

Fresnillo plc is a Mexico-focused precious metals mining company that explores for, develops, and produces silver and gold. Its operations include underground and open-pit mines, processing facilities, and exploration projects, with production primarily consisting of silver-bearing concentrates, doré and related mineral products.

The company operates in Mexico, including the states of Zacatecas, Durango and Sonora. Its portfolio has included the Fresnillo, Saucito, San Julián, Ciénega and Herradura mines, as well as the Juanicipio silver-gold project, which Fresnillo operates in partnership with MAG Silver.