The stock of Fresnillo Plc (LON:FRES) gapped up by GBX 86.28 today and has GBX 2294.49 target or 45.00% above today’s GBX 1582.41 share price. The 7 months technical chart setup indicates low risk for the GBX 11.66 billion company. The gap was reported on Nov, 10 by Barchart.com. If the GBX 2294.49 price target is reached, the company will be worth GBX 5.25B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock decreased 10.65% or GBX 188.59 on November 10, hitting GBX 1582.41. About 2.46 million shares traded hands or 100.00% up from the average. Fresnillo Plc (LON:FRES) has risen 53.46% since April 13, 2016 and is uptrending. It has outperformed by 47.81% the S&P500.
Fresnillo Plc (LON:FRES) Ratings Coverage
Out of 16 analysts covering Fresnillo PLC (LON:FRES), 4 rate it a “Buy”, 5 “Sell”, while 7 “Hold”. This means 25% are positive. Fresnillo PLC has been the topic of 113 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Numis Securities maintained Fresnillo Plc (LON:FRES) rating on Thursday, August 6. Numis Securities has “Buy” rating and GBX 1000 price target. As per Monday, November 30, the company rating was maintained by Macquarie Research. As per Wednesday, October 14, the company rating was maintained by Morgan Stanley. Deutsche Bank maintained Fresnillo Plc (LON:FRES) rating on Wednesday, August 5. Deutsche Bank has “Hold” rating and GBX 715 price target. The stock of Fresnillo Plc (LON:FRES) has “Equal Weight” rating given on Tuesday, November 10 by Barclays Capital. The firm earned “Outperform” rating on Monday, November 23 by Macquarie Research. The firm has “Buy” rating by HSBC given on Monday, October 26. The firm has “Overweight” rating given on Thursday, May 5 by JP Morgan. The firm has “Sell” rating by Deutsche Bank given on Wednesday, June 29. The stock of Fresnillo Plc (LON:FRES) has “Buy” rating given on Thursday, August 13 by Numis Securities.
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 11.66 billion GBP. The primary contents of this production include silver, gold, lead and zinc. It has a 89.61 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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