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Fresnillo (FRES.L)

Basic Materials Dividend payer

The world's biggest primary silver miner, with a serious gold side-hustle in Mexico, currently posting some of the fattest margins and growth on this list.

£24.75

Is Fresnillo a good stock for a UK beginner?

The honest version: The world's biggest primary silver miner, with a serious gold side-hustle in Mexico, currently posting some of the fattest margins and growth on this list.

No rating · no target price · nothing for sale here
Price+320.9%
52-week range+75% past year
£24.75
Low £13.71High £44.72
Where today's price sits versus its past year - context, not a signal.
If you had put £1,000 into Fresnillo
£4,209+321%

Over about 2 years to 2026-07-31. This is the share price only - reinvesting the dividends would add to it. Past performance is not a guide to the future, and it could just as easily have fallen.

Market cap: The company's total value on the stock market - share price times the number of shares. Big = 'large-cap', small = 'small-cap'.
£18.24B
Avg volume: How many shares change hands on a typical day. Higher means it's easy to buy or exit without moving the price.
1.02M
Day range: The lowest and highest price the shares traded at during the latest day.
£24.45 – £25.85
52-week range: The lowest and highest the shares have traded over the past year - a sense of how wide the swings have been.
£13.71 – £44.72
P/E ratio: Price-to-earnings: the share price divided by yearly profit per share. Lower can mean cheaper; higher often means investors expect fast growth.
17.7
Dividend yield: The yearly dividend as a percentage of the share price - roughly the income you'd earn from dividends alone.
3.8%
Beta: How bumpy the share price is versus the whole market. Above 1 swings more than the market; below 1 is calmer. It's about the ride, not whether it goes up or down.
0.72
How bumpy is it?Beta: How bumpy the share price is versus the whole market. Above 1 swings more than the market; below 1 is calmer. It's about the ride, not whether it goes up or down. 0.72
Calm
Wild
Steadier than most

Based on beta - how much the price swings versus the whole market. Bumpier isn't bad; it just means a rougher ride, which matters more the sooner you might need the money.

Why has it been moving?▲ +4% past week · ▲ +75% past year

Prices move on results, news and the mood of the whole market - no single headline explains a day, and a quiet week is usually just noise, not a signal.

The bull case

Structurally higher silver and gold prices persist alongside successful mine-life extensions.

The bear case

A multi-year decline in precious-metals prices combined with rising Mexican taxes or costs.

What does Fresnillo do?

Fresnillo digs silver and gold out of the ground in Mexico, and it's the world's largest primary silver producer with a meaningful gold business alongside. Its margins, return on equity: How much profit the company makes for each £1 shareholders have put in. Higher usually means a more efficient business. and revenue growth: How fast the company's sales grew versus a year ago. are all near the top of this group - mostly a reflection of how strong silver and gold prices have been over the period measured, not magic. Its growth screener score is the highest of the six companies here. The one thing worth watching -> the momentum score is comparatively low, a hint the share price hasn't fully caught up with how much the underlying numbers have improved.

VQGMI
Factor profile

On our factor screen it looks strongest on growth and quality, and weakest on momentum.

Value: How cheap the stock looks versus profits, sales and assets (higher = cheaper). 44Quality: How profitable and financially healthy the company is (higher = stronger). 83Growth: How fast revenue and earnings are growing (higher = faster). 94Momentum: How the share price has been trending recently (higher = stronger recent run). 25Income: The dividend income on offer and how sustainable it looks (higher = more/steadier). 79
Quick checks
What's strong
  • Quality screens high (83/100)
  • Growth screens high (94/100)
  • Income screens high (79/100)
  • Highest margin and return on equity among the six companies covered
  • Leading global position in primary silver production
What to watch
  • Momentum screens low (25/100)
  • Silver and gold price volatility
  • Mexican mining tax or regulatory changes
  • Ore grade decline or operational disruption

What do Fresnillo's numbers mean?

Net margin
30.3%
Just under a third of revenue converts to profit, among the highest margins of the companies covered here.
ROE
33.9%
Return on equity of almost 34% is the highest on this list, reflecting strong profitability relative to shareholders' capital in the current precious-metals price environment.
Revenue growth
+31%
Revenue grew by around 31%, driven by a combination of higher silver/gold prices and production.
P/E
18.6 (fwd 11.4)
The trailing multiple of 18.6 times falls to 11.4 times on forward estimates, implying the market expects earnings to keep rising.
Dividend yield
3.6%
The shares carry a dividend yield of 3.6%, with miner payouts typically varying alongside the metal price cycle.

Does Fresnillo pay a dividend?

Yes - Fresnillo currently pays a dividend of about 3.8% a year (the yearly payout as a share of the price). A dividend is a slice of profit handed to shareholders; the yield moves as the price moves, and a company can cut or stop it.

More in Basic Materials

CF IndustriesNewmontEndeavour MiningNucorSteel Dynamics, Inc.Freeport-McMoRan Inc.Corteva, Inc.Albemarle Corporation

What are the scenarios for Fresnillo?

An illustrative range for the year ahead, with the assumption behind each case — not a prediction or a price target.

£43£25£15today · £25▲ Bull · £30• Base · £25▼ Bear · £19in 1 yearILLUSTRATIVE · NOT A PREDICTION OR PRICE TARGET
Bull
+15% to +25%Silver and gold prices extend recent strength and quarterly output meets guidance.
Base
-10% to +10%Metal prices trade sideways and production runs to plan.
Bear
-20% to -30%A pullback in silver/gold prices or a production miss at a key mine.

What are the pros and cons of Fresnillo?

3bull points
5bear points

How many points the write-up makes each way — a balance check, not a score or verdict.

The bull case3
  • Highest margin and return on equity among the six companies covered
  • Leading global position in primary silver production
  • Highest growth screener score of the group
The catch2
  • Momentum score is comparatively weak despite strong fundamentals
  • Results are concentrated in a single country (Mexico) and two commodities
Key risks3
  • Silver and gold price volatility
  • Mexican mining tax or regulatory changes
  • Ore grade decline or operational disruption
What would flip the thesis

The write-up's own warning lights — if these start happening, the case above changes.

Confidence: low · data: GBP · flags: none · Charts by TradingView Lightweight Charts™
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Built from public filings & market prices, checked for an education-only tone, and never a price target. How we make these →

Figures as of 2026-08-01. Prices may be delayed and numbers can go stale - always double-check before acting.