|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||11.10 - 11.40|
|52 Week Range||9.23 - 14.75|
|Beta (3Y Monthly)||-0.22|
|PE Ratio (TTM)||23.43|
|Forward Dividend & Yield||0.27 (2.48%)|
|1y Target Est||N/A|
Moody's Investors Service (Moody's) has today affirmed Fresnillo plc's (Fresnillo) Baa2 senior unsecured rating and changed its outlook to stable from positive. While Fresnillo maintains solid credit metrics, today's rating and outlook action reflects Moody's expectation that free cash flow will remain negative in the next 12-18 months, as Fresnillo continues to have large capital spending that entails some execution risks, and the risks related to the group concentration on one country, Mexico, leaving it fully exposed to any adverse change in the country's regulatory or operating environment.
Silver output slipped 14.8 percent to 13.1 million ounces in the three months ended March 31, mainly due to lower grades of ore and lower ore throughput, Fresnillo said. "We expect to realise the benefits from the investments we have made into infrastructure, equipment and an extensive infill drilling programme, which will all have a positive impact on production in the second half," Octavio Alvídrez, Fresnillo Chief Executive Officer, said. The company, which mines gold and silver in Mexico, reported lower than expected full-year profit in February while warning of headwinds including lower precious metals prices for 2019.
Fresnillo plc and MAG Silver Corp. confirm that their silver / gold Juanicipio project, held through Minera Juanicipio, has received approval from their respective Boards as well as from the Minera Juanicipio shareholders. Fresnillo plc will be the operator of Juanicipio and holds a 56% majority stake in the Joint Venture, with partner MAG Silver Corp. owning the remaining 44%. Considerable further exploration opportunities in license area with potential to scale-up operations in future.
Before the opening bell on Tuesday, Fresnillo PLC (FNLPF) released its operating and financial results for 2018. The Mexican miner produced 922,527 ounces of gold, which was a 1.3% increase from 2017, and achieved an annual record of 61.8 million ounces of silver, which reflects 5.3% year-over-year growth. While the company surpassed its guidance on gold production for the year, silver production missed the mark as a result of lower ore grades and some operating issues.
The FTSE 100 ended 0.5 percent lower after steep losses in the morning as the index's stocks, which book much of their earnings in dollars, were marred by the pound surging to four-month highs. The midcaps added 0.1 percent as a 10 percent surge in Travis Perkins on better-than-expected full-year adjusted earnings helped cushion a slump in Metro Bank triggered by a cash call. The pound gained on reports that British Prime Minister Theresa May would rule out a no-deal Brexit and delay the March 29 deadline for exit from the European Union.
Mexico's largest gold producer also reported lower-than-expected full year pretax profit, hurt by weak silver output and higher costs. Fresnillo was forced to cut its 2019 silver production forecast last month after 2018 output missed its own estimates, largely because of lower ore grades at the Fresnillo and Saucito mines as well as operational issues. "We anticipate that 2019 will be a more challenging year than 2018," Fresnillo said.
If you foresee gold prices pushing over $1,350 in 2019, as Kitco.com says the majority of Wall Street does, then I suggest you look for publicly traded gold miners that tend to outperform the industry during a gold bull market. Warning! GuruFocus has detected 3 Warning Signs with FNLPF. One of these players is Fresnillo PLC (FNLPF) (FRES.L), a Mexican developer, explorer and producer of gold and other precious metals.
Mid-caps stocks, like Fresnillo PLC (LON:FRES) with a market capitalization of UK£5.8b, aren’t the focus of most investors who prefer to direct their investments towards either large-cap or small-cap stocks. Read More...
I’ve been keeping an eye on Fresnillo PLC (LON:FRES) because I’m attracted to its fundamentals. Looking at the company as a whole, as a potential stock investment, I believe FRES Read More...
Silver production rose 6.3 percent to 15.5 million ounces in the third quarter due to the contribution of a new plant, higher ore grades at some of its mines and higher volumes at its expanded San Julián facility in Northwestern Mexico. Gold production fell 3.5 percent to 225,202 ounces in the third quarter, partly due to lower volume of ore processed at its Herradura mine in Northwest Mexico and lower ore grade and recovery rate at San Julián Veins.
In June 2018, Fresnillo PLC (LON:FRES) released its earnings update. Generally, analyst consensus outlook seem bearish, as a -5.0% fall in profits is expected in the upcoming year compared with Read More...
MILAN/LONDON (Reuters) - European shares hit their lowest in more than 21 months on Thursday following a slide on Wall Street as jitters over rising U.S. Treasury yields and signs of slowing global growth prompted broad selling of risky assets. All sectors in Europe fell, though tech recovered some losses thanks to M&A hopes. The euro zone's STOXX (.STOXXE) index extended losses during the day to close down 1.7 percent, while Britain's FTSE 100 (.FTSE) fell 1.9 percent.
A tie-up between Randgold Resources and Barrick Gold will leave a void in the London market for investors seeking exposure to gold via companies that produce the precious metal. Canada's Barrick Gold has agreed to buy Africa-focused Randgold for $6.5 billion to create the world's largest gold producer. Randgold, listed in London for 21 years, is the second mining company to announce its departure from the British capital's stock exchange in three months following Vedanta Resources.
Today I will be providing a simple run through of a valuation method used to estimate the attractiveness of Fresnillo PLC (LON:FRES) as an investment opportunity by taking the expectedRead More...
I am writing today to help inform people who are new to the stock market and want to begin learning about how to value company based on its current earningsRead More...