Fresnillo (OTCMKTS:FNLPF) Shares Gap Down – Should You Sell?

Fresnillo PLC (OTCMKTS:FNLPF) gapped down prior to trading on Monday. The stock had previously closed at $33.25, but opened at $30.84. Fresnillo shares last traded at $31.05, with a volume of 844 shares changing hands.

Analysts Set New Price Targets

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

Fresnillo Stock Performance

The stock has a 50-day moving average price of $38.59 and a 200-day moving average price of $43.23.

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.