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Fresnillo/£FRES

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About Fresnillo

Fresnillo plc is a Mexican-based precious metals mining company predominantly active in the extraction of silver and gold. The company focuses on its core operations located primarily in the state of Zacatecas, Mexico, where it manages several mines, including Fresnillo, Saucito, and Juanicipio. Founded in 2008 and headquartered in Mexico City, Fresnillo is part of the industrial metals and mining sector. It has a strategic position as one of the largest primary silver producers globally, with an emphasis on cost-effective extraction and extensive resource bases. Fresnillo's geographic presence in mining-friendly jurisdictions and its experience in large-scale operations underpin its competitive strengths.
Ticker
£FRES
Sector
Materials
Primary listing
LSE
Employees
7,348
Headquarters
Mexico City, Mexico
Website
www.fresnilloplc.com

Fresnillo Metrics

BasicAdvanced
£20B
11.85
£2.34
0.70
£1.12
4.03%

What the Analysts think about Fresnillo

Analyst ratings (Buy, Hold, Sell) for Fresnillo stock.
Analyst projections of the future price of Fresnillo stock.

Bulls say / Bears say

Fresnillo’s first-half revenue rose 74.7% to US$3.4bn and gross profit rose 130.7% to US$2.4bn as gold and silver prices surged. It ended June with US$2.5bn of cash and paid an increased interim dividend of 43.4 US cents per share, giving it financial firepower for investment and shareholder returns. (Financial Times)
Gold production rose 13.8% sequentially in the second quarter, while management maintained its 2026 production guidance. Completion of the Jarillas shaft connection at Saucito and the ramp-up of Herradura’s new leaching pad could support a stronger second half. (Fresnillo, Morningstar)
The growth pipeline offers potential beyond the current mines: Valles and Noche Buena could lift medium-term gold output, while Rodeo could add a further 100,000 ounces a year if permitted. JP Morgan also expects Fresnillo to reach about US$2.4bn of net cash by year-end, supporting dividends and project funding. (Proactive Investors, Fresnillo)
First-half attributable silver production fell 11.4% and gold production fell 7.3% year on year. Lower grades, weather, a mill problem and delays to Herradura’s leaching pad mean the unchanged full-year guidance now relies on a substantial second-half recovery. (Fresnillo, Fresnillo)
Adjusted production costs rose 20.5% to US$811.9m in the first half. A stronger Mexican peso, inflation, higher Saucito maintenance, longer Herradura haulage and extra contractors are squeezing the cost base and could weaken margins if metal prices cool. (Financial Times)
The earnings surge was driven mainly by prices rather than volume: realised silver prices rose 134.4% and gold prices rose 47.3% while production declined. That leaves Fresnillo highly sensitive to a reversal in precious-metals prices, particularly while unit costs are rising. (Kalkine Media, Financial Times)
Data summarised monthly by Lightyear AI. Last updated on 28 Sept 2026.

Fresnillo Financial Performance

Revenues and expenses
Income statement
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
Net income
Profit margin

Fresnillo Earnings Performance

Company profitability
Earnings per share
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
Expected
Surprise

Funds containing Fresnillo

AllEURGBPUSD
Funds
Fund name
Fund size
£FRES weighting
iShares STOXX Europe 600 Basic Resources€EXV6
€563M1.72%
iShares Essential Metals Producers€CEBT
€820M0.64%
iShares Essential Metals Producers£METG
£704M0.64%
iShares STOXX Europe Mid 200€EXSD
€610M0.37%
Vanguard FTSE 100£VUKE
£4.8B0.22%
Latest price is delayed by 15 minutes. Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Market data provided by London Stock Exchange, through Infront.