Fresnillo (FRES)

Sector:

Mining

Index:

FTSE 100

742.40p
   
  • Change Today:
      25.00p
  • 52 Week High: 1,027.50
  • 52 Week Low: 601.00
  • Currency: UK Pounds
  • Shares Issued: 736.89m
  • Volume: 2,230,939
  • Market Cap: £5,471m
  • Beta: 0.03

UBS upgrades 'inexpensive' Fresnillo to 'buy'

By Iain Gilbert

Date: Friday 25 Jan 2019

LONDON (ShareCast) - (Sharecast News) - Analysts at UBS upgraded Mexican-based precious metals mining company Fresnillo to 'buy' on Friday, noting the firm was "as inexpensive as it has been for a number of years".
The Swiss broker said Fresnillo was "well positioned" for a re-rating in 2019 following the stabilisation of "several key risks", such as potential changes to Mexican mining policy.

The analysts felt that material changes to the nation's legislation now seem "materially lower" following recent statements from Mexican mining undersecretary Francisco Quiroga - who specifically stated there would be "no retroactive changes" to mining concessions and permits.

While Senator Napoleon Gomez Urrutia has called for higher mining taxation, on balance UBS believes Quiroga's comments were likely to reduce the risk of any changes there also/

UBS also noted that after more than two years of operational disappointments at the Fresnillo mine and several medium-term production guidance downgrades, in its view, market expectations for the firm were low.

"We do not expect a material improvement at the Fresnillo mine in FY19 and we believe labour availability could remain an issue in FY19; but after weak 4Q18 results and FY19 guidance, in our view expectations are low reducing the potential for further disappointment."

In addition to the upgrade, UBS also bumped its target price on Fresnillo from 900p to 1,100p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Fresnillo Market Data

Currency UK Pounds
Share Price 742.40p
Change Today 25.00p
% Change 3.48 %
52 Week High 1,027.50
52 Week Low 601.00
Volume 2,230,939
Shares Issued 736.89m
Market Cap £5,471m
Beta 0.03

Fresnillo Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
67.4% below the market average67.4% below the market average67.4% below the market average67.4% below the market average67.4% below the market average
93.22% below the sector average93.22% below the sector average93.22% below the sector average93.22% below the sector average93.22% below the sector average
Price Trend
55.4% below the market average55.4% below the market average55.4% below the market average55.4% below the market average55.4% below the market average
10.4% below the sector average10.4% below the sector average10.4% below the sector average10.4% below the sector average10.4% below the sector average
Income
74.95% below the market average74.95% below the market average74.95% below the market average74.95% below the market average74.95% below the market average
91.3% below the sector average91.3% below the sector average91.3% below the sector average91.3% below the sector average91.3% below the sector average
Growth
28.94% below the market average28.94% below the market average28.94% below the market average28.94% below the market average28.94% below the market average
80% below the sector average80% below the sector average80% below the sector average80% below the sector average80% below the sector average

What The Brokers Say

Strong Buy 5
Buy 0
Neutral 10
Sell 0
Strong Sell 0
Total 15
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Fresnillo Dividends

  Latest Previous
  Interim Final
Ex-Div 08-Aug-19 25-Apr-19
Paid 06-Sep-19 24-May-19
Amount 2.60¢ 16.70¢

Trades for 23-Sep-2019

Time Volume / Share Price
16:42 35 @ 742.40p
16:35 330,059 @ 742.40p
16:29 228 @ 742.40p
16:29 94 @ 742.20p
16:29 79 @ 742.20p

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