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
581.50p
16:35 25/04/24
0.17%
1.00p
FTSE 100
8,075.71
16:34 25/04/24
n/a
n/a
FTSE 350
4,432.51
16:30 25/04/24
n/a
n/a
FTSE All-Share
4,386.10
16:34 25/04/24
n/a
n/a
Mining
10,406.10
16:29 25/04/24
-1.09%
-114.17
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.