Precious metals prices have been extremely volatile in recent months, and after silver and gold made record highs, both have had significant pullbacks.
For years I’ve been bullish on silver and it didn’t really do a lot, so it is great to see it performing as strongly as it has been over the past year or so and now trading at many multiples of the typical price range we were used to seeing.
The world’s largest primary silver producer and, from Mexico also, a gold producer, Fresnillo (FRES) has announced its results for the 2024 calendar year emphasising “a solid financial performance” enabling its highest return to shareholders whilst continuing to invest in its future. How good is the news with the shares at 800p?
The world's largest primary silver producer and, from Mexico also, a gold producer, Fresnillo (FRES) has announced its results for the first half of 2024, stating it was “pleased to report an increase in profitability over the period, driven by a steady production performance combined with careful cost management and higher gold and silver prices. As a result, we are able to confirm an increase in dividends to our shareholders”. There’s also a notice of “unauthorised access to certain IT systems and data”, though currently “no material operational or financial impact has been experienced or is foreseen”. So what about a, net from those, current below 600p share price?
Metals miner from Mexico, Fresnillo (FRES) has issued an AGM update including that it is “proactively addressing” challenges and that overall “2024 has started as expected and our full year guidance is unchanged”. With gold and silver price strength, how good is this news from a now back below 640p share price?
Metals miner from Mexico, Fresnillo (FRES) has announced that it has started 2024 with production performance in line with expectations and a focus on the advancement of its growth pipeline. With also an improving sector environment, we look for further upside from a current 580.5p share price.
Metals producer from Mexico, Fresnillo (FRES) has issued a first quarter of the year production report including that it is “well on track to meet our full year production guidance”.
The world's largest primary silver producer and Mexico's largest gold producer, Fresnillo (FRES) has announced results for the 2022 calendar year and said that it is excited about its growth pipeline.
The world's largest primary silver producer Fresnillo (FRES) has issued a fourth quarter production report and 2023 guidance for 104-115 million ounces of silver equivalent production.
Fresnillo (FRES) has seven operating mines all of them in Mexico. This impacted it in 2022 with Mexican labour reform challenges adding to the wider ones such as supply chain bottlenecks and cost inflation. In October a third quarter report concluded “remain on track to meet our 2022 full year guidance of 50.5 to 56.5 moz of attributable silver... and 600 to 650 koz of attributable gold production” and just yesterday the company was “pleased to confirm the final testing of the downstream power distribution and control systems at the Juanicipio project is now complete… commissioning of the project has formally begun. Ramp up will now be conducted at pace”.
Fresnillo (FRES) has announced first quarter of the year production including attributable silver production of 13.28 million ounces and gold production of 0.15 million ounces and that, despite challenges, “2022 guidance remains unchanged”.
Fresnillo (FRES) has announced 2021 results and on-going challenges but also confidence in its prospects. Really?
Gold and silver miners have generally performed quite poorly as of late, and certainly when you consider the prices that the metals themselves have been trading at, and Fresnillo (FRES) has certainly been no exception. That is your opportunity and here is why.
Last weekend I wrote about the silver squeeze which was being hyped all over social media and gave my opinion that it wouldn’t play out as people expected, and although we might see a brief spike off the back of all the publicity, we weren’t going to see the silver derivative shorts crushed overnight. I was right.
Silver and gold mining giant Fresnillo (FRES) has always been a good leveraged play on commodity prices, and is a favourite amongst both investors and traders looking for exposure to precious metals.
Silver has performed very badly in recent months and has hit the lowest levels that we have seen since the start of 2016, but there are plenty of reasons why you should have some exposure to the metal in your portfolio.
