Precious metals stocks were given a lift on Friday. Fresnillo PLC (LSE:FRES) jumped 5%, topping the FTSE 100 risers.
Here is how Fresnillo PLC (FNLPF) and New Pacific Metals Corp. (NEWP) have performed compared to their sector so far this year.
Fresnillo PLC (LSE:FRES) was among the FTSE 100's top risers in morning trading as silver surged to a record high, lifted by expectations of a US interest rate cut and strong industrial demand for the metal. Spot silver crossed $60 an ounce for the first time on Tuesday, extending a rally that has already more than doubled its price this year.
Silver is still brushing up against its all-time high, trading at $57.29 an ounce, and the surge has shoved Fresnillo PLC (LSE:FRES) to the top of the FTSE 100, with the miner's shares up 4% to 2,741p. Analysts say the squeeze is tied to rising needs from electric vehicles, AI hardware and solar technology, all of which rely on silver's high conductivity.
Here is how Fresnillo PLC (FNLPF) and Lundin Mining (LUNMF) have performed compared to their sector so far this year.
Here is how Fresnillo PLC (FNLPF) and Perpetua Resources Corp. (PPTA) have performed compared to their sector so far this year.
After losing some value lately, a hammer chart pattern has been formed for Fresnillo (FNLPF), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term.
Fresnillo plc (OTCPK:FNLPF) M&A Call October 31, 2025 5:00 AM EDT Company Participants Octavio Alvidréz - Chief Executive Officer Mario Arreguín - Chief Financial Officer Conference Call Participants Marina Calero Ródenas - RBC Capital Markets, Research Division Alain Gabriel - Morgan Stanley, Research Division Amos Fletcher - Barclays Bank PLC, Research Division Presentation Operator Hello, and welcome, everyone, to today's call. My name is Becky, and I'll be your operator today.
Fresnillo PLC (LSE:FRES) shares rose in early trading after the miner announced a C$780 million all-cash deal to buy Canada's Probe Gold, marking its first move into the country's mining sector. The London-listed group will pay C$3.65 a share, a 24 % premium to Probe's 30-day average price on the Toronto exchange.
Fresnillo PLC (LSE:FRES) shares rose 5% on Wednesday morning as prices of gold and silver found support after sharp falls the day before. The Mexican precious metals miner, whose shares fell almost 14% yesterday, also reported third-quarter production figures, which were broadly in line with internal forecasts.
Fresnillo (FNLPF) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Fresnillo PLC (LSE:FRES) run may be far from over, according to JP Morgan, which has lifted its price target on the Mexican precious metals group to a Street-high £21 per share, implying around 27% upside from current levels. The bank, which has had an “overweight” rating on the stock for some time, said that even after a 175% rally this year, Fresnillo still offers more to investors, thanks to a powerful mix of stronger production, rising gold prices and the prospect of double-digit cash returns.