Fresnillo (FNLPF) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Fresnillo PLC (LSE:FRES) dropped 6% as the Mexican gold and silver miner warned that Penoles, its partner in the Silverstream agreement, was having production trouble at the Sabinas mine. Sabinas, fully owned by Peñoles, is covered by the Silverstream Agreement entered into by Fresnillo and Peñoles in December 2007.
After its recent solid third-quarter update, UBS asks if it is finally time for the Mexican gold and silver miner Fresnillo PLC (LSE:FRES) to shine after 10 years of underperformance. Alas, the bank's answer to its own question still seems to be no even with gold and silver prices at record highs.
Fresnillo PLC (LSE:FRES) has reported a sharp rebound in gold production just as the precious metal price hit a new all-time high of US$2,753 an ounce. Octavio Alvídrez, chief executive, said: “In gold, we have delivered a rapid recovery at Herradura after the mine plan was impacted by heavy rains earlier in the year, with gold production increasing 40% quarter on quarter.
Here is how Fresnillo PLC (FNLPF) and Anglo American (NGLOY) have performed compared to their sector so far this year.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Fresnillo plc (OTCPK:FNLPF) Q2 2024 Results Conference Call July 30, 2024 4:00 AM ET Company Participants Octavio Alvidrez - Chief Executive Officer Mario Arreguín - Chief Financial Officer Tomas Iturriaga - Chief Operating Officer, Central Area Daniel Diez - Chief Operating Officer, North Conference Call Participants Jason Fairclough - Bank of America Richard Hatch - Berenberg Daniel Major - UBS Patrick Jones - JPMorgan Octavio Alvidrez Good morning, everyone. Thank you for joining us this Fresnillo plc's Interim Results.
Fresnillo is a major silver producer with plans to produce half a million ounces of gold, primarily active in Mexico. Q1 results show that production is on track, with the new Juanicipio mine ramped up, despite lower gold output due to mining lower grade material. Predictions for 2024 suggest potential for increased pre-tax income and net profit, making Fresnillo an attractive investment for silver-focused investors.
Here is how Fresnillo PLC (FNLPF) and Ero Copper Corp. (ERO) have performed compared to their sector so far this year.
With silver prices on an uptrend and the demand expected to remain strong, the near-term prospects of the Zacks Mining - Silver industry look upbeat. Stocks like FNLPF, FSM, PAAS, HL and MAG are likely to gain from solid growth projects, efforts to improve operational efficiency and lower costs.
Here is how Fresnillo PLC (FNLPF) and Avino Silver (ASM) have performed compared to their sector so far this year.