Canaccord Genuity Group Issues Pessimistic Forecast for Fresnillo (LON:FRES) Stock Price

Fresnillo (LON:FRES) had its target price reduced by Canaccord Genuity Group from GBX 2,900 to GBX 2,700 in a report issued on Thursday, Digital Look reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 6.93% from the company’s previous close.

FRES has been the subject of a number of other research reports. Berenberg Bank reissued a “hold” rating and issued a GBX 2,800 price objective on shares of Fresnillo in a report on Thursday. JPMorgan Chase & Co. lowered shares of Fresnillo to an “overweight” rating and decreased their target price for the stock from GBX 5,400 to GBX 4,700 in a research report on Thursday, July 16th. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 2,700 target price on shares of Fresnillo in a report on Tuesday, August 4th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a GBX 3,200 price target on shares of Fresnillo in a research report on Monday, September 14th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Fresnillo currently has an average rating of “Hold” and an average price target of GBX 3,516.67.

Fresnillo Price Performance

LON:FRES opened at GBX 2,525 on Thursday. Fresnillo has a 52 week low of GBX 2,012 and a 52 week high of GBX 4,472. The company has a debt-to-equity ratio of 16.67, a quick ratio of 3.28 and a current ratio of 6.35. The firm’s 50-day simple moving average is GBX 2,911.37 and its 200 day simple moving average is GBX 3,017.70. The firm has a market cap of £18.61 billion, a price-to-earnings ratio of 8.16, a P/E/G ratio of -1.58 and a beta of 0.81.

Fresnillo Company Profile

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.