Fresnillo Expands into Canada with Probe Gold Acquisition

FRESNILLO ( (GB:FRES) ) just unveiled an update.

Fresnillo plc has announced its acquisition of Probe Gold Inc., a Canadian exploration company, for approximately CAD$780 million. This strategic move marks Fresnillo’s entry into the Canadian market, particularly the Val d’Or Mining camp in Quebec, known for its rich gold mining history. The acquisition aligns with Fresnillo’s strategy to expand its resource base and enhance its portfolio with high-quality exploration projects. The Novador Gold Project, a key asset of Probe, offers substantial exploration potential and is expected to significantly contribute to Fresnillo’s long-term growth. The transaction is anticipated to close in Q1 2026, subject to shareholder and court approvals, and will be financed with Fresnillo’s existing cash reserves.

The most recent analyst rating on (GB:FRES) stock is a Buy with a £2333.00 price target. To see the full list of analyst forecasts on FRESNILLO stock, see the GB:FRES Stock Forecast page.

Spark’s Take on GB:FRES Stock

According to Spark, TipRanks’ AI Analyst, GB:FRES is a Outperform.

Fresnillo’s overall stock score is driven by its strong financial performance and positive earnings call, indicating robust operational efficiency and growth potential. However, technical indicators and valuation suggest caution, with potential overvaluation and mixed short-term momentum.

To see Spark’s full report on GB:FRES stock, click here.

More about FRESNILLO

Fresnillo plc is the world’s largest primary silver producer and Mexico’s largest gold producer, listed on the London Stock Exchange. The company focuses on the exploration, development, and production of gold and silver resources, with a strong emphasis on sustainability and community collaboration.

Average Trading Volume: 2,355,980

Technical Sentiment Signal: Buy

Current Market Cap: £16.57B

For detailed information about FRES stock, go to TipRanks’ Stock Analysis page.