JPMorgan Chase & Co. Cuts Fresnillo (FRES) Price Target to GBX 1,250
Fresnillo (LON:FRES) had its price target lowered by equities research analysts at JPMorgan Chase & Co. from GBX 1,300 ($16.83) to GBX 1,250 ($16.18) in a report released on Wednesday. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price objective indicates a potential upside of 26.57% from the company’s previous close.
A number of other equities research analysts also recently weighed in on the stock. Credit Suisse Group downgraded shares of Fresnillo to a “neutral” rating and decreased their price target for the stock from GBX 1,460.74 ($18.91) to GBX 1,270 ($16.44) in a research note on Thursday, July 5th. Numis Securities reiterated an “add” rating and set a GBX 1,450 ($18.77) price target on shares of Fresnillo in a research note on Friday, April 27th. Citigroup decreased their price target on shares of Fresnillo from GBX 1,395 ($18.06) to GBX 1,285 ($16.63) and set a “neutral” rating on the stock in a research note on Thursday, April 26th. Royal Bank of Canada reiterated a “sector performer” rating and set a GBX 1,200 ($15.53) price target on shares of Fresnillo in a research note on Wednesday, April 25th. Finally, Barclays decreased their price target on shares of Fresnillo from GBX 1,330 ($17.22) to GBX 1,200 ($15.53) and set an “equal weight” rating on the stock in a research note on Wednesday, July 18th. Eight research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of GBX 1,392.08 ($18.02).
FRES opened at GBX 987.60 ($12.78) on Wednesday. Fresnillo has a fifty-two week low of GBX 1,174 ($15.20) and a fifty-two week high of GBX 1,746 ($22.60).
Fresnillo plc mines, develops, and produces non-ferrous minerals in Mexico. It primarily explores for silver, gold, lead, and zinc concentrates. The company's operating mines include the Fresnillo, Saucito, Ciénega, Herradura, Noche Buena, and San Julián; development projects comprise the Pyrites Plant, and second line of the DLP at Herradura; and advanced exploration projects consist of the Orisyvo, Juanicipio, Las Casas Rosario and Cluster Cebollitas, and Centauro Deep, as well as various other long term exploration prospects.
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