Fresnillo Stock News

Fresnillo PLC (LSE:FRES) and Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) shares moved lower on Tuesday as London-listed gold producers responded to bullion's retreat during the UK bank holiday weekend. Fresnillo fell 3% to 3,075p shortly after the opening bell, making it one of the FTSE 100's biggest fallers.

Precious metals strengthened on Friday, lifting London-listed miners Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) and Fresnillo PLC (LSE:FRES) towards the top of the FTSE 100 gainers. Endeavour Mining advanced 2.26% to 4,846p, while gold and silver producer Fresnillo gained 1.83% to 3,228p.

Fresnillo PLC (LSE:FRES) has fallen behind its precious metals mining peers this year, and JP Morgan thinks the market has stopped paying attention at precisely the wrong moment. The bank kept its 'overweight' rating and 4,700p target price after Wednesday's half-year results, implying roughly 70% upside.

Mining stocks led the FTSE 100 higher, with Fresnillo PLC (LSE:FRES) out in front on a 5% gain. The Mexican precious metals producer is enjoying follow-through buying after Tuesday's interim results, which beat expectations on higher volumes and lower-than-forecast operating costs, with gross profits more than doubling year on year.

Jefferies has described Fresnillo PLC's (LSE:FRES) first-half results as a clean beat across the board, with earnings, cash flow and sales volumes all coming in ahead of forecasts and capital spending guidance cut sharply. The Mexican precious metals producer reported earnings per share of $1.75, against the broker's $1.45 estimate and consensus of $1.66.

Gold and silver production fell due to lower ore grades at key mines, but the miner backed its full-year guidance.

Hochschild Mining PLC (LSE:HOC) and Fresnillo PLC (LSE:FRES) led London's mining sector lower on Thursday as falling gold and silver prices hit precious metals producers. Hochschild fell 1.8%, Endeavour Mining PLC (LSE:EDV) lost 1.8%, Pan African Resources PLC (LSE:PAF) shed 1.5% and Fresnillo dropped 1.3% in early trading.