Is Fresnillo (LON:FRES) a Buy? HSBC Upgrades It

Fresnillo (LON:FRES) Upgrade

HSBC upgraded the shares of Fresnillo (LON:FRES) to a “Buy” rating in an analyst note issued on Thursday morning. The broker now has GBX 2200.00 target price on the stock.

Out of 15 analysts covering Fresnillo PLC (LON:FRES), 4 rate it a “Buy”, 5 “Sell”, while 6 “Hold”. This means 27% are positive. GBX 2200 is the highest target while GBX 560 is the lowest. The GBX 1310.57 average target is -27.79% below today’s (GBX 1815) stock price. Fresnillo PLC has been the topic of 83 analyst reports since October 5, 2015 according to StockzIntelligence Inc. HSBC upgraded the stock on September 29 to “Buy” rating. Deutsche Bank maintained it with “Sell” rating and GBX 1210 target price in a September 5 report. Macquarie Research maintained the shares of FRES in a report on September 20 with “Neutral” rating. Credit Suisse maintained the firm’s rating on August 5. Credit Suisse has “Outperform” rating and GBX 1948 price target. Lastly, JP Morgan maintained the stock with “Neutral” rating in a September 15 report.

About 269,083 shares traded hands. Fresnillo Plc (LON:FRES) has risen 77.70% since February 29, 2016 and is uptrending. It has outperformed by 66.44% the S&P500.

Fresnillo plc is a holding company. Through its subsidiaries, the Company is engaged in the mining and beneficiation of non-ferrous minerals, and the sale of related production. The company has a market cap of 13.37 billion GBP. The primary contents of this production include silver, gold, lead and zinc. It has a 108.09 P/E ratio. The Firm has six operating mines: Fresnillo, located in the State of Zacatecas, which is primary silver mine; Saucito, located in the State of Zacatecas, an underground silver mine; Cienega, located in the State of Durango, an underground gold mine, including the San Ramon satellite mine; Herradura, located in the State of Sonora, a surface gold mine; Soledad-Dipolos mine, located in the State of Sonora, a surface gold mine, and Noche Buena, located in State of Sonora, a surface gold mine.

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