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
704.50p
09:49 07/11/24
0.79%
5.50p
FTSE 100
8,171.98
09:50 07/11/24
n/a
n/a
FTSE 350
4,507.88
09:50 07/11/24
n/a
n/a
FTSE All-Share
4,465.48
09:50 07/11/24
n/a
n/a
Mining
11,380.25
09:49 07/11/24
-0.98%
-112.63
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.