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Investing in precious metals mining stocks has been deeply frustrating over the past three years. However, with gold prices surging to multiple all-time highs and silver like a coiled spring, this FTSE 100 stock looks primed for lift off.
Record shareholder returns
When I last covered Fresnillo (LSE: FRES) back in May 2024, the stock had moved 25% in just a month. Silver prices, which had been doing nothing for years, had just popped from $22 to $34. Since then, the cheaper cousin to gold has remained in the $30 range, a feat not seen since back in 2011.
Off the back of surging metal prices, the miner’s 2024 results were simply off the Richter scale. Gross profit was up 150% to $1.2bn. Earnings before income tax, depreciation, and amortisation (EBITDA) more than doubled to $1.5bn. And net cash from operating activities more than tripled to $1.3bn.
With the business simply…
