Fresnillo plc

OTCPK:FNLP.F Stock Report

Market Cap: US$21.3b

Fresnillo Valuation

Is FNLP.F undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of FNLP.F when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

US$18.44
Fair Value
56.3% overvalued intrinsic discount
12
Number of Analysts

Below Fair Value: FNLP.F ($28.82) is trading above our estimate of fair value ($18.44)

Significantly Below Fair Value: FNLP.F is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FNLP.F?

Key metric: As FNLP.F is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for FNLP.F. This is calculated by dividing FNLP.F's market cap by their current earnings.
What is FNLP.F's PE Ratio?
PE Ratio46.8x
EarningsUS$456.05m
Market CapUS$21.34b

Price to Earnings Ratio vs Peers

How does FNLP.F's PE Ratio compare to its peers?

The above table shows the PE ratio for FNLP.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average39.4x
HL Hecla Mining
85.7x43.21%US$8.6b
AU AngloGold Ashanti
18.7x21.27%US$34.3b
RGLD Royal Gold
32.8x32.20%US$14.8b
STLD Steel Dynamics
20.2x28.75%US$22.9b
FNLP.F Fresnillo
46.8x33.24%US$16.2b

Price-To-Earnings vs Peers: FNLP.F is expensive based on its Price-To-Earnings Ratio (46.8x) compared to the peer average (39.4x).

Price to Earnings Ratio vs Industry

How does FNLP.F's PE Ratio compare vs other companies in the US Metals and Mining Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BMXI Brookmount Explorations
1xn/aUS$11.08m
RMRI Rocky Mountain Industrials
0.9xn/aUS$1.76m
MDSM.F Ten Sixty Four
0.06xn/aUS$455.60k
CMLG.F CaNickel Mining
0.000004xn/aUS$37.00
No more companies available in this PE range
FNLP.F 46.8xIndustry Avg. 23.7xNo. of Companies8PE01632486480+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: FNLP.F is expensive based on its Price-To-Earnings Ratio (46.8x) compared to the US Metals and Mining industry average (23.4x).

Price to Earnings Ratio vs Fair Ratio

What is FNLP.F's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FNLP.F PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio46.8x
Fair PE Ratio32.2x

Price-To-Earnings vs Fair Ratio: FNLP.F is expensive based on its Price-To-Earnings Ratio (46.8x) compared to the estimated Fair Price-To-Earnings Ratio (32.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst FNLP.F forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$28.82
US$31.41
+8.98%
28.35%US$57.29US$22.33n/a12
Oct ’26US$32.20
US$21.81
-32.27%
35.09%US$36.04US$12.64n/a13
Sep ’26US$24.27
US$19.16
-21.05%
24.58%US$28.17US$12.64n/a13
Aug ’26US$18.78
US$17.34
-7.67%
23.84%US$25.04US$12.36n/a13
Jul ’26US$20.55
US$15.75
-23.35%
19.59%US$20.29US$11.10n/a13
Jun ’26US$15.65
US$14.53
-7.13%
16.66%US$19.56US$11.10n/a13
May ’26US$13.34
US$14.12
+5.82%
17.12%US$19.41US$10.63n/a13
Apr ’26US$12.10
US$11.26
-6.98%
11.39%US$13.17US$9.35n/a13
Mar ’26US$9.17
US$10.53
+14.88%
13.48%US$14.11US$8.81n/a13
Feb ’26US$8.70
US$10.22
+17.52%
13.43%US$14.11US$8.01n/a13
Jan ’26US$7.85
US$10.38
+32.19%
12.91%US$14.24US$8.29n/a13
Dec ’25US$8.22
US$10.47
+27.27%
13.23%US$14.24US$8.32n/a13
Nov ’25US$9.43
US$10.20
+8.19%
15.75%US$14.69US$8.32US$29.6913
Oct ’25US$8.46
US$9.43
+11.43%
17.09%US$14.11US$8.01US$32.2013
Sep ’25US$7.24
US$9.22
+27.39%
17.80%US$14.11US$7.84US$24.2713
Aug ’25US$7.65
US$9.29
+21.42%
18.71%US$14.11US$7.79US$18.7812
Jul ’25US$7.09
US$8.90
+25.54%
21.77%US$14.11US$7.08US$20.5512
Jun ’25US$7.75
US$8.85
+14.14%
22.23%US$14.11US$6.85US$15.6512
May ’25US$7.11
US$8.26
+16.17%
24.17%US$14.11US$6.09US$13.3412
Apr ’25US$6.05
US$7.48
+23.66%
31.97%US$14.47US$4.84US$12.1012
Mar ’25US$5.95
US$7.74
+30.14%
29.85%US$13.79US$4.83US$9.1712
Feb ’25US$6.65
US$7.96
+19.67%
29.94%US$13.79US$4.83US$8.7012
Jan ’25US$7.55
US$8.43
+11.68%
25.42%US$13.79US$4.62US$7.8512
Dec ’24US$7.74
US$8.33
+7.68%
25.92%US$13.79US$4.62US$8.2212
Nov ’24US$6.50
US$8.25
+26.89%
27.62%US$13.79US$4.12US$9.4312
US$31.24
Fair Value
7.7% undervalued intrinsic discount
12
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/03 15:59
End of Day Share Price 2025/11/03 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Fresnillo plc is covered by 30 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David Simon ButlerBarclays
Amos FletcherBarclays
Richard HatchBerenberg