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.
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StockMarketWire.com
Fresnillo's silver production (including Silverstream) rose 10.5% to 16 moz in the three months to the end of December compared to the third quarter of last year.

Quarterly silver production increased 10.5% vs. 3Q17, while 4Q17 silver production of 16.0 moz (including Silverstream) was up 20.3% vs. 4Q16.

The miner said that the upbeat quarterly output was driven by the first complete year of San Julian (phase I) operating at full capacity and the start-up of operations at San Julian (phase II)

Year to date silver production (including Silverstream) rose to 58.7 moz, up 16.6% versus year-to-date 2016.

Quarterly gold production of 232 koz decreased 13.4% versus 4Q16 due to a lower reduction of gold inventories at Herradura. While annual gold production of 911.1 koz exceeded guidance but decreased 2.6% versus 2016 due to the expected lower reduction of gold inventories and the anticipated lower ore grade deposited at the leaching pads at Herradura.

The group said the outlook on silver production was unchanged, expected to be in the range of 67 to 70 moz (including the Silverstream). Gold production expected to be in the range of 870-900 koz.

Chief executive Octavio Alvidrez said: 'I am pleased to report that Fresnillo has delivered a strong performance in 2017.'

'Construction of the Pyrites Plant project continued while further progress was achieved at the Dynamic Leaching Plant at Herradura,' Alvidrez said. 'We expect to commission both projects in 2018 and to see them contribute to our 2018 production.'

Citigroup today reaffirms its neutral investment rating on Fresnillo PLC (LON:FRES) and set its price target at 1360p.

StockMarketWire.com
Fresnillo reported pre-tax profit rose 3.2% to $741.5m in 2017, up from $718.2m, supported by record silver production.

Silver production rose 16.6% to 58.7m ounces in the year ended Dec. 31, as the first phase of San Julian silver and gold mine in Mexico operated at full capacity for the first full year.

Gold production for the year was 911,132 ounces, down 2.6% compared to the previous year.

Adjusted revenue was US$2,233.2m, up 9.2% compared to the prior year amid record silver volumes, an increase in zinc volumes sold and higher base metal prices.

Gross profit and EBITDA was US$925.4m and US$1,060.1m, up 4.9% and 2.7% respectively.

Capital expenditures was US$604.8m, up 39.3% compared to the period year, but below guidance, mainly due to lower capex at pyrites plant project and Juanicipio.

Silver production is expected to be in the range of 67m to 70m ounces this year while gold production is expected to be in the range of 870,000 to 900,000 ounces.

The company said it expects capital expenditure this year to be approximately US$755m.

Numis today upgrades its investment rating on Fresnillo PLC (LON:FRES) to add (from hold) and left its price target at 1450p.

Citigroup today reaffirms its neutral investment rating on Fresnillo PLC (LON:FRES) and set its price target at 1395p

StockMarketWire.com
Fresnillo reported increased production across it main products including gold and silver in the first quarter of the year but confirmed the fatality of a contract worker at its Saucito mine.

Quarterly silver production (including Silverstream) increased 14.0% compared to the first quarter of 2017, as San Julian operations reached full capacity offsetting lower production at Saucito.

Compared to the fourth quarter of 2017, silver production decreased 3.7% as a result of both the lower volume of ore processed and ore grade at Saucito and the lower ore grade at San Julian.

The miner confirmed it remained on track to achieve its 2018 silver production target of 67-70 moz.

Quarterly gold production increased 4.1% amid a continued drawdown of inventories and a higher ore grade at Herradura. The miner remained on track to deliver on its 2018 gold production target of 870-900 koz gold.

Lead production increased 1.5%, while Zinc production rose 37.9%.

The firm said the construction of the Pyrites plant in the Fresnillo district remained on track. Both the leaching plant at Saucito and second line of the Dynamic Leaching Plant at Herradura were due to be commissioned in the second quarter of the year.

Morgan Stanley today reaffirms its equal weight investment rating on Fresnillo PLC (LON:FRES) and cut its price target to 1330p (from 1620p).

Barclays Capital today reaffirms its equal weight investment rating on Fresnillo PLC (LON:FRES) and cut its price target to 1200p (from 1330p).

JP Morgan Cazenove today reaffirms its neutral investment rating on Fresnillo PLC (LON:FRES) and cut its price target to 1250p (from 1300p).

First Eagle reduce http://www.moneyam.com/action/news/showArticle?id=6147921

metal stocks moving against the Market in general naturally metal prices are higher today.

840.40 +68.20 or +8.83%

Black Rock adds https://www.moneyam.com/action/news/showArticle?id=6174784

3rd Quarter production report https://www.moneyam.com/action/news/showArticle?id=6179264

JP Morgan Cazenove today reaffirms its neutral investment rating on Fresnillo PLC (LON:FRES) and cut its price target to 1200p (from 1250p).

Why is Fresnillo down nearly 6% today ? Gold price is steady and Pound to Dollar is steady ?

Seems the Mexican Government are proposing changes:
RBC comment:
"We think a lot of the points around mining in the recently proposed bills are largely as expected by FRES management when we met them last at the Denver Gold Forum. Whilst Bill #10’s language on possible cancellation of mining concessions if certain clauses are contravened reads badly, we see absolutely no indication that FRES is, has been or ever will be in this situation. In fact, we would argue that the group is well positioned versus peers in terms of stakeholder relations given its long history in Mexico. The rest of Bill #10 will undoubtedly make the concession permitting process for new mines/expansions more arduous due to the requirements around consultation and impact assessments. However, we would argue this just brings Mexico more in line with other international destinations such as Canada and Australia. We would note that FRES at its San Julian mine recently permitted a water reservoir for the operation using the first-ever Indigenous consultation process in mining in Mexico. This again demonstrates that FRES is ahead of peers and in a strong position to cope with changes if/when they come.

What we think the market may be missing today is the fact that all of the FRES concessions for developments for the next 24 months are in place already. This includes the group’s next leg of growth, the high-quality Juanicipio project. On the proposed royalty changes, the 2% EBITDA charge if applied would have a small c. -3% reduction to our EPS forecasts. On the other proposed royalty changes and need for a fund for “human and sustainable development” we would note FRES currently has three royalty payments (concession royalty, extraordinary and special mining royalty). Of these, one-third already goes into a community fund. Could this satisfy the legislation? Possibly. FRES also in our experience invests highly in the local communities in the areas it mines in line with global best practice. This will put it on a strong footing if/when negotiations are had.

Stepping back from the details we would also note that the feedback from both FRES management and other Mexican mining operators has been cautiously optimistic on AMLO’s new mines minister. It is also clear to us that there is a mixture of more extreme and more moderate politicians within AMLO and that populist headlines and proposals are to be expected in the run-up to the Mexican budget on December 15th. We hope and expect sense to prevail in the country and for FRES shares to recover making today’s sell-off an attractive entry point."

Production report https://www.moneyam.com/action/news/showArticle?id=6286673