Floated in may '08 at a share price of 525p. Shares in issue Dec '08 717,160,000.
Based in Mexico & listed on the LSE FTSE 250 index. (FTSE100 March '09)
Miner of Gold, silver, Zinc & Lead in Mexico
Produces approx 3m Oz silver, 280k Oz gold, 20k tons Zinc, 17k tons lead p.a.(2008)
Fresnillo has three producing mines, all of them in Mexico - Fresnillo, Ci�nega and Herradura; two advanced development projects - Fresnillo II, Soledad & Dipolos; and three exploration prospects - San Juan, San Julian, Orysivo, as well as a number of other long term exploration prospects and, in total, has mining concessions covering approximately 1.3 million hectares in Mexico.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Surely as the markets are nervous atm, gold is seen as a safe haven, which should push up FRES regardless of the fundamentals. Betting against the market seems pretty risky to me. As you say, if we knew the answer we would all be rich by now!!!

gold has come off $26 today .... indeed, it was down $30 at one point

FRES is down 4.5% today, though FRES also produces silver, so it is not a straight correlation to the gold price. Presumably some people prefer to hold physical gold, others ETFs and others gold producers.

it has just been pointed out to me that gold is probably down due to a few hawkish comments coming from the fed chaps
thus, if interest rates are indeed set to rise sooner rather than later, gold falls and $ gets stronger

Yes this one is very susceptible to sentiment regarding interest rates, and consequently those who move into gold to hedge against low and lower rates.

Lower interest rates often mean higher gold price, but also one needs to watch the £ / $ movements, as lower $ may mean higher gold price.
Also when FT index rises or falls FRES does not necesserely follow index.
Not so straight forward trading in this one I think.


Also if Mexican peso falls then FRES may make cost savings
I still trade FRES on a daily basis - sometimes long sometimes short,
Turnover by value seems to be about 50% silver and 50% gold

It has been dropping for the past 3 or 4 trading days

Could easily be down to 850p soon

except that if the markets turn unsettled, which is far from impossible, you could easily be caught on the wrong side

Mr Cynic
"turn unsettled" - do you mean if we get unanticipated good or bad news
i.e Reports from US or China mainly ? This applies to almost all shares valuations

I am off to Philippines for a month holiday this week end .. that's my good news

referendum, sell in may syndrome + anything else

wife's home?
my younger son loves it over there and indeed the whole region
does a lot of scuba as well

Cynic - yes wife's home Philippines - I have never been before - but spent 30 years in Malawi, Nigeria, Cameroon, 2 years Saudi, 1 year Guyana Sth. America - am 71 now so just need to relax in the warmth. Looking forward to seeing Asia. Do you still go to France each year ? Maybe this year you should try northern Spain which is not over crowded and very scenic.

on hol we're going to cascais (near lisbon) which we enjoyed very much last year and wonderful fish

this year's cycling trip is southern brittany

RBC Capital Markets today downgrades its investment rating on Fresnillo PLC (LON:FRES) to underperform (from sector performer) and raised its price target to 750p (from 610p).

Ex-divi Thurs 21st April 2016 (3¢)

StockMarketWire.com
Fresnillo's gold production rose to 230 koz in the threee months to the end of March - up 26.3% on the first quarter of last year and up 6.5% on the previous quarter.

This was mainly due to a higher speed of recovery at Herradura now steady state has been reached, and a higher speed of recovery at Noche Buena.

Quarterly silver production totalled 12.2 moz (including Silverstream), broadly in line with 1Q15 and 4Q15.

This was the third consecutive quarter of improvements in grade and production at the Fresnillo mine and the group says it is evidence of progression of turnaround plan.

Construction at San Julian remains on track. The leaching plant (stage 1) is expected to be commissioned in 2Q16 and the flotation plant (stage 2) in 4Q16.

The group says it is on track to achieve 2016 production guidance of 49-51 moz silver, (including 4.0 moz from the Silverstream), and 775-790 koz gold

Chief executive Octavio Alvadrez said: "I am pleased to report a solid quarter of production, with 230 thousand ounces of gold and 12.2 million ounces of silver produced across our mines and from the Silverstream contract.

"In particular, we saw a significant improvement in grades at the Fresnillo mine during the quarter, to 236 grammes per tonne - the third consecutive quarter of improvement in both grade and production - as the turnaround at this mine progresses following the measures we have put in place. This continues to be a core area of focus for the Group.

"Our San Julian project is advancing towards production, with commissioning of the first phase on track for the second quarter, and the second phase by the year end.

"We continue to focus on maximising efficiency and productivity across all our mines, and are on course to meet our 2016 production guidance of 49-51 million ounces of silver and 775-790 thousand ounces of gold."

JP Morgan Cazenove today reaffirms its overweight investment rating on Fresnillo PLC (LON:FRES) and raised its price target to 980p (from 950p).

Macquarie today reaffirms its neutral investment rating on Fresnillo PLC (LON:FRES) and set its price target at 1000p.

Citigroup today downgrades its investment rating on Fresnillo PLC (LON:FRES) to sell (from neutral).

That's easy to say.. but why?

Blimey, top riser today so far. Brokers are hopeless!

StockMarketWire.com
Fresnillo has completed construction of the first phase of its San Julian project in Mexico on time and on budget but the milling facility will not be up and running regularly until early August due to a technical problem.

Fresnillo says that after a few days of testings and starting to feed the mill continuously, a minor technical failure occurred, which led to a malfunctioning of the lubrication system, causing wear of the mill pads.

Fresnillo says this kind of event is often experienced during the start-up of a new project, but it was quickly identified and is being addressed.

The company now expects the milling facility to be up and running regularly towards the first week of August, at which point the mill will gradually be taken up to full capacity.

Despite this technical issue, the company confirms its guidance of 775-790 koz of gold and 49-51 moz of silver for 2016 as the higher than expected volumes produced at Saucito will compensate for the shortfall production at San Julian.

The US$515 million San Julian silver-gold project has an expected average production of 10.3 million ounces of silver and 44,000 ounces of gold per year once phase 2 is commissioned by year-end and it reaches full capacity.

Macquarie today reaffirms its neutral investment rating on Fresnillo PLC (LON:FRES) and raised its price target to 1600p (from 1000p).