Fresnillo (OTCMKTS:FNLPF) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Fresnillo (OTCMKTS:FNLPF) from a hold rating to a buy rating in a report issued on Monday morning, Zacks.com reports. Zacks Investment Research currently has $9.00 price target on the basic materials company’s stock.

According to Zacks, “Fresnillo plc is silver and gold mining and exploration company. It also produces lead and zinc concentrates, silver precipitates, gold and silver dore bars and leases mining equipment. The Company has properties in Mexico. Fresnillo also holds interests in properties located in Zacatecas, Durango and Sonora. Fresnillo plc is headquartered in Mexico. “

FNLPF has been the topic of a number of other research reports. Macquarie raised shares of Fresnillo from an underperform rating to an outperform rating and set a $9.00 price target on the stock in a research report on Friday, September 13th. Royal Bank of Canada lowered shares of Fresnillo from a top pick rating to a sector perform rating in a research report on Wednesday, July 31st. UBS Group downgraded shares of Fresnillo from a buy rating to a neutral rating in a research note on Friday, July 19th. HSBC downgraded shares of Fresnillo from a buy rating to a hold rating in a research note on Friday, August 2nd. Finally, Goldman Sachs Group downgraded shares of Fresnillo from a conviction-buy rating to a neutral rating in a research note on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Fresnillo presently has a consensus rating of Hold and an average target price of $9.00.

OTCMKTS:FNLPF opened at $8.40 on Monday. Fresnillo has a 12 month low of $7.01 and a 12 month high of $13.76. The company’s 50 day moving average is $8.57 and its 200-day moving average is $9.46.

About Fresnillo

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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