RBC Capital upgrades Fresnillo to 'outperform'
RBC Capital Markets upgraded its stance on shares of Fresnillo to ‘outperform’ from ‘sector perform’ as it argued that after weak first-quarter silver production and lower guidance, market expectations "seem to have been largely reset".
Fresnillo
636.50p
12:40 24/12/24
-0.08%
-0.50p
FTSE 100
8,136.99
12:59 24/12/24
n/a
n/a
FTSE 350
4,491.87
12:54 24/12/24
n/a
n/a
FTSE All-Share
4,449.61
13:14 24/12/24
n/a
n/a
Mining
10,237.67
12:54 24/12/24
-0.47%
-48.03
The bank said the precious metals miner is now set to deliver a growth phase, with the ramp-up of the Juanicipio project improving free cash flow.
"With the shares underperforming peers and trading at the low end of its historical multiple ple range, we upgrade our recommendation," RBC said.