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Fresnillo Shares Tumble After Disappointing Update

01/26/2022 | 03:57am EDT

Fresnillo Drops After Disappointing Operational Update

0820 GMT - Shares in precious-metals mining company Fresnillo fall 15% after reporting fourth-quarter production and providing guidance for 2022. The numbers were disappointing, as production missed estimates by 8%-9% for silver and gold, Jefferies says. In addition, the guidance was well below consensus estimates, particularly for silver, the bank says. "Beyond the delay in Juanicipio, announced in December, Fresnillo is citing lower volume of ore at Saucito due to personnel shortages, Covid-related absenteeism and instability caused by increased seismicity in the Jarillas vein," Jefferies says. (jaime.llinares@wsj.com)

 
Companies News: 

Sage Group Says 1Q Was in Line; Backs FY 2022 Guidance

Sage Group PLC said Wednesday that growth was in line with expectations in the first quarter of its fiscal 2022 and it backed its guidance for the full year.

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U.K. Watchdog Issues Enforcement Order on National Express, Stagecoach Deal

The U.K. Competition and Markets Authority on Wednesday issued an initial enforcement order on National Express Group PLC's planned takeover of Stagecoach Group PLC, preventing the companies from fully combining while it considers the deal.

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Fresnillo Operations in Mexico Hit by Omicron Variant, New Labor Rules

Fresnillo PLC on Wednesday said that the pandemic and the new labor reform in Mexico is hampering its mining operations, and forecast lower gold production for this year.

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Brewin Dolphin 1Q Total Funds Under Management Rose

Brewin Dolphin Holdings PLC said Wednesday that its total funds under management rose in the first quarter of fiscal 2022, benefiting from growth across both its direct and indirect business.

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Playtech Notes Media Speculation on Future; Reiterates Support for Aristocrat Bid

Playtech PLC said Wednesday that it has noted recent media speculation on its future strategy and that it reiterates its recommendation that shareholders vote in favor of the offer from Aristocrat Leisure Ltd.

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Wizz Air 3Q Pretax Loss Widened; Warns on 4Q Results

Wizz Air Holdings PLC on Wednesday reported a widened pretax loss for the third quarter of fiscal 2022 after booking significantly higher prices and seeing the average revenue per passenger decrease, and warned of a hit from the impact of the Omicron Covid-19 variant in the last quarter of the year.

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Tullow Oil Sees 2021 Free Cash Flow Ahead of Guidance

Tullow Oil PLC said Wednesday that it expects to report better-than-expected free cash flow for 2021, reflecting supportive oil prices, focus on costs and favorable working capital movements.

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Bloomsbury Publishing Says FY 2022 Revenue, Profit to Beat Expectations

Bloomsbury Publishing PLC said Wednesday that it expects to report revenue and profit ahead of market expectations for fiscal 2022.

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Digital 9 Infrastructure Raises GBP95.2 Mln via Share Placing

Digital 9 Infrastructure PLC said Wednesday that it has raised 95.2 million pounds ($128.6 million) via the share placing announced earlier this month.

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Pets at Home Expects FY2022 Underlying Pretax Pft to Beat Market Views After Strong 3Q

Pets at Home Group PLC said Wednesday that revenue increased in the third quarter of fiscal 2022, and that it expects to post a full-year underlying pretax profit above market expectations.

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Quilter 4Q Assets Under Management Rose 13%

Quilter PLC said Wednesday that assets under management rose 13% in the fourth quarter of 2021.

 
Market Talk: 

Inflation Fears Likely to Boost Demand for UK's March 2051 Index-Linked Gilt Auction

0837 GMT - Inflation fears and some extra yield should spur demand for the U.K. Debt Management Office's planned sale of GBP600 million in the 0.125% March 2051 index-linked gilt, says RBC Capital Markets. "While the bond does not stand out as particularly cheap compared to its nearest neighbours, there are some signs that a concession has been priced into the sector ahead of today's auction," analysts at the bank say. This combined with continuing fears of higher inflation should help support the take-down of today's auction, they add. The next index-linked auction will be on March 15. (lorena.ruibal@wsj.com)


Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com

(END) Dow Jones Newswires

01-26-22 0357ET

Stocks mentioned in the article
ChangeLast1st jan.
ARISTOCRAT LEISURE LIMITED 4.27% 35.17 Delayed Quote.-19.28%
BLOOMSBURY PUBLISHING PLC 3.72% 404.5 Delayed Quote.12.36%
BREWIN DOLPHIN HOLDINGS PLC 0.00% 512 Delayed Quote.38.38%
DIGITAL 9 INFRASTRUCTURE PLC 0.70% 114.8 Delayed Quote.0.88%
FRESNILLO PLC 1.16% 783.2 Delayed Quote.-12.14%
LONDON BRENT OIL 0.94% 112.54 Delayed Quote.42.93%
NATIONAL EXPRESS GROUP PLC 2.43% 252.8 Delayed Quote.-1.71%
PETS AT HOME GROUP PLC 0.00% 279 Delayed Quote.-40.00%
PLAYTECH PLC 6.73% 539 Delayed Quote.-26.42%
QUILTER PLC 0.91% 121.9 Delayed Quote.-17.91%
S&P GSCI PRECIOUS METALS INDEX -0.07% 2398.08 Real-time Quote.0.26%
SAGE GROUP PLC 1.96% 667 Delayed Quote.-21.77%
SILVER 0.00% 21.73 Delayed Quote.-6.01%
STAGECOACH GROUP PLC 0.19% 104.6 Delayed Quote.16.55%
TULLOW OIL PLC -2.19% 53.55 Delayed Quote.15.29%
WIZZ AIR HOLDINGS PLC 0.78% 3085 Delayed Quote.-26.34%
WTI 1.22% 110.515 Delayed Quote.44.84%
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