MARKET TALK: Citigroup Boosts Fresnillo Target Price

16th Jun 2010 07:58

0658 GMT [Dow Jones] Citigroup lifts Fresnillo (FRES.LN) target price to 1225p from 860p, derived by a combination of price to net present value and enterprise value to Ebitda valuations. Maintains a buy rating on the stock, saying it's one of its favored precious metal stocks at the moment, especially as it is not subject to the current challenges of South African mining, as is the case with the platinum producers. Adds as a silver producer with a large gold production component, the company has been a big beneficiary of the gold activity during the euro sovereign debt crisis. Shares closed at 1070p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 16, 2010 02:58 ET (06:58 GMT)