MTL.L vs. FRES.L
MTL.L (Metals Exploration plc) and FRES.L (Fresnillo plc) are both stocks. Both are in the Basic Materials sector — MTL.L in Gold, FRES.L in Other Precious Metals & Mining. Over the past 5 years, MTL.L returned 45.09%/yr vs 33.23%/yr for FRES.L. At a 0.14 correlation, their price movements are largely independent.
Performance
MTL.L vs. FRES.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MTL.L achieves a -11.18% return, which is significantly lower than FRES.L's -2.86% return.
MTL.L
- 1D
- -1.46%
- 1M
- 4.17%
- YTD
- -11.18%
- 6M
- 0.00%
- 1Y
- 54.82%
- 3Y*
- 107.55%
- 5Y*
- 45.09%
- 10Y*
- —
FRES.L
- 1D
- -3.71%
- 1M
- -2.67%
- YTD
- -2.86%
- 6M
- 19.06%
- 1Y
- 164.20%
- 3Y*
- 71.49%
- 5Y*
- 33.23%
- 10Y*
- 13.70%
MTL.L vs. FRES.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MTL.L Metals Exploration plc | -11.18% | 184.11% | 105.77% | 112.24% | -15.52% | -12.12% | -10.81% |
FRES.L Fresnillo plc | -2.86% | 468.22% | 6.13% | -32.98% | 3.90% | -18.79% | -7.27% |
Correlation
The correlation between MTL.L and FRES.L is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2020 | 0.14 |
The correlation between MTL.L and FRES.L shifts across timeframes, from 0.14 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
MTL.L:
£396.98M
FRES.L:
£23.34B
MTL.L:
£0.02
FRES.L:
£2.08
MTL.L:
7.08
FRES.L:
15.26
MTL.L:
0.02
FRES.L:
0.07
MTL.L:
1.18
FRES.L:
2.91
MTL.L:
1.57
FRES.L:
5.04
MTL.L:
£350.30M
FRES.L:
£8.03B
MTL.L:
£127.59M
FRES.L:
£3.75B
MTL.L:
£185.80M
FRES.L:
£3.90B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MTL.L vs. FRES.L — Risk / Return Rank
MTL.L
FRES.L
MTL.L vs. FRES.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Metals Exploration plc (MTL.L) and Fresnillo plc (FRES.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| MTL.L | FRES.L | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.93 | 2.98 | -2.06 |
Sortino ratioReturn per unit of downside risk | 1.61 | 3.24 | -1.62 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.40 | -0.21 |
Calmar ratioReturn relative to maximum drawdown | 1.63 | 5.26 | -3.63 |
Martin ratioReturn relative to average drawdown | 2.86 | 12.45 | -9.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| MTL.L | FRES.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 2.98 | -2.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.79 | 0.79 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.32 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.28 | +0.35 |
Drawdowns
MTL.L vs. FRES.L - Drawdown Comparison
The maximum MTL.L drawdown since its inception was -73.39%, smaller than the maximum FRES.L drawdown of -82.36%. Use the drawdown chart below to compare losses from any high point for MTL.L and FRES.L.
Loading charts...
Drawdown Indicators
| MTL.L | FRES.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.39% | -82.36% | +8.97% |
Max Drawdown (1Y)Largest decline over 1 year | -33.51% | -31.03% | -2.48% |
Max Drawdown (3Y)Largest decline over 3 years | -35.40% | -35.33% | -0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -62.50% | -53.75% | -8.75% |
Max Drawdown (10Y)Largest decline over 10 years | — | -74.47% | — |
Current DrawdownCurrent decline from peak | -27.03% | -27.19% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -33.62% | -40.32% | +6.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.14% | 13.14% | +6.00% |
Volatility
MTL.L vs. FRES.L - Volatility Comparison
The current volatility for Metals Exploration plc (MTL.L) is 16.03%, while Fresnillo plc (FRES.L) has a volatility of 19.88%. This indicates that MTL.L experiences smaller price fluctuations and is considered to be less risky than FRES.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MTL.L | FRES.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.03% | 19.88% | -3.85% |
Volatility (6M)Calculated over the trailing 6-month period | 39.42% | 42.16% | -2.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.86% | 54.69% | +4.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.46% | 42.30% | +15.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.78% | 43.35% | +24.43% |
Dividends
MTL.L vs. FRES.L - Dividend Comparison
MTL.L has not paid dividends to shareholders, while FRES.L's dividend yield for the trailing twelve months is around 3.00%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRES.L Fresnillo plc | 3.00% | 2.00% | 1.35% | 1.98% | 2.44% | 2.66% | 1.00% | 2.35% | 3.49% | 1.74% | 0.74% | 0.47% |
MTL.L Metals Exploration plc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
MTL.L vs. FRES.L - Financials Comparison
This section allows you to compare key financial metrics between Metals Exploration plc and Fresnillo plc. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
MTL.L vs. FRES.L - Profitability Comparison
MTL.L - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Metals Exploration plc reported a gross profit of 37.56M and revenue of 89.89M. Therefore, the gross margin over that period was 41.8%.
FRES.L - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Fresnillo plc reported a gross profit of 1.50B and revenue of 2.59B. Therefore, the gross margin over that period was 57.7%.
MTL.L - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Metals Exploration plc reported an operating income of 32.61M and revenue of 89.89M, resulting in an operating margin of 36.3%.
FRES.L - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Fresnillo plc reported an operating income of 1.39B and revenue of 2.59B, resulting in an operating margin of 53.5%.
MTL.L - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Metals Exploration plc reported a net income of 12.44M and revenue of 89.89M, resulting in a net margin of 13.8%.
FRES.L - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Fresnillo plc reported a net income of 994.96M and revenue of 2.59B, resulting in a net margin of 38.4%.
Frequently Asked Questions
MTL.L and FRES.L have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for MTL.L and FRES.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer