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Berenberg Bank Lowers Fresnillo (LON:FRES) Price Target to GBX 700

Fresnillo (LON:FRES) had its target price dropped by equities researchers at Berenberg Bank from GBX 1,000 ($13.49) to GBX 700 ($9.44) in a note issued…

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This article was originally published by ETF Daily News

Fresnillo (LON:FRES) had its target price dropped by equities researchers at Berenberg Bank from GBX 1,000 ($13.49) to GBX 700 ($9.44) in a note issued to investors on Wednesday, Price Targets.com reports. The brokerage currently has a “hold” rating on the stock. Berenberg Bank’s price target suggests a potential upside of 9.99% from the company’s previous close.

A number of other equities research analysts have also issued reports on FRES. Peel Hunt reiterated a “buy” rating and issued a GBX 1,340 ($18.08) target price on shares of Fresnillo in a research note on Wednesday, October 27th. Peel Hunt reiterated a “buy” rating and issued a GBX 1,340 ($18.08) target price on shares of Fresnillo in a research note on Wednesday, October 27th. Morgan Stanley reiterated an “equal weight” rating and issued a GBX 850 ($11.47) target price on shares of Fresnillo in a research note on Thursday, November 11th. Barclays lowered their target price on Fresnillo from GBX 880 ($11.87) to GBX 860 ($11.60) and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada lowered Fresnillo to a “sector perform” rating and lowered their target price for the company from GBX 1,025 ($13.83) to GBX 575 ($7.76) in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of GBX 1,014.38 ($13.69).

Shares of LON:FRES opened at GBX 636.40 ($8.59) on Wednesday. The firm has a market capitalization of £4.69 billion and a PE ratio of 10.48. The company has a debt-to-equity ratio of 33.51, a current ratio of 4.98 and a quick ratio of 3.97. The business has a 50-day moving average of GBX 863.27 and a two-hundred day moving average of GBX 845.83. Fresnillo has a 12 month low of GBX 630.40 ($8.51) and a 12 month high of GBX 1,193.50 ($16.10).

Fresnillo Company Profile

Fresnillo plc mines, develops, and produces non-ferrous minerals in Mexico. The company primarily explores for silver, gold, lead, and zinc concentrates. Its flagship project is Fresnillo silver mine located in the state of Zacatecas. The company has mining concessions covering an area of approximately 1.7 million hectares of surface land in Mexico.

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The post Berenberg Bank Lowers Fresnillo (LON:FRES) Price Target to GBX 700 appeared first on ETF Daily News.

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