Fresnillo: UBS no longer on 'buy'
(CercleFinance.com) - UBS downgrades its recommendation on Fresnillo from 'buy' to 'neutral' and its price target from 1,100 to 800 pence, citing an absence of “visibility on operational turnaround & cost risks” for the Mexican precious metals mining company.
“The 'operational turnaround is not materialising as we had hoped and higher cost guidance is a significant incremental negative”, says the broker in a research note.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
“The 'operational turnaround is not materialising as we had hoped and higher cost guidance is a significant incremental negative”, says the broker in a research note.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.