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Aug. 6, 2013, 3:22 PM
- It's worse for the sliver miners than the gold miners today after Fresnillo (FNLPF.PK -5.6%) reported a 61% decline in H1 profit and investors decide 2.6x book value and a 26.4 PE ratio is too expensive with silver (SLV -0.9%) slipping below $20 per ounce.
- Fresnillo makes up 12% of the Global X Silver Miners ETF (SIL -6.3%) and 5.5% of the iShares MSCI Global Silver Miners ETF (SLVP -3.1%), but isn't a top-weighted stock in the PureFunds ISE Junior Silver ETF (SILJ -6.5%).
Mar. 1, 2011, 4:44 PMDespite generating far more cash than it needs to operate or fund expansion, Fresnillo (FNLPF.PK -1.9%), the world's largest silver miner has little interest in "corporate activity." M&A often “look(s) good on paper, but then you discover later all the skeletons in the closet," says its CEO. | Comment!
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