Fresnillo (OTCMKTS:FNLPF) Shares Gap Up – Here’s Why

Fresnillo PLC (OTCMKTS:FNLPF)’s share price gapped up prior to trading on Monday . The stock had previously closed at $52.04, but opened at $55.43. Fresnillo shares last traded at $53.67, with a volume of 3,955 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently commented on FNLPF. Berenberg Bank lowered Fresnillo from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. Citigroup reissued a “buy” rating on shares of Fresnillo in a research note on Wednesday, January 14th. Morgan Stanley reaffirmed an “underweight” rating on shares of Fresnillo in a report on Monday, January 12th. Finally, Zacks Research raised Fresnillo from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Fresnillo Trading Up 0.4%

The company’s 50 day simple moving average is $49.21 and its two-hundred day simple moving average is $36.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.34 and a current ratio of 5.09.

About Fresnillo

Fresnillo plc is a precious metals mining company focused on the production, exploration and development of silver and gold. The company is widely recognized as a leading primary silver producer and a significant gold producer, operating in the mining sector with activities that span underground and open-pit mining, mineral processing and concentrator operations. Fresnillo’s business centers on bringing mined ore through processing to produce saleable precious metal products for industrial and investment markets.

Operationally, the company manages a portfolio of producing mines and development projects, with exploration programs intended to extend mine life and expand resource bases.