First Majestic Silver Corp. (FR) Receives C$11.67 Average Price Target from Brokerages
First Majestic Silver Corp. (TSE:FR) (NYSE:AG) has received a consensus recommendation of “Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$11.67.
Several analysts recently issued reports on the stock. National Bank Financial boosted their target price on shares of First Majestic Silver from C$9.75 to C$11.50 in a research report on Saturday, July 14th. TD Securities upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating and boosted their target price for the company from C$11.00 to C$14.00 in a research report on Tuesday, May 15th. Cormark cut their target price on shares of First Majestic Silver from C$14.00 to C$13.00 and set a “c$9.03” rating for the company in a research report on Wednesday, July 18th. Finally, BMO Capital Markets dropped their price target on shares of First Majestic Silver from C$9.25 to C$8.75 and set a “market perform” rating for the company in a research report on Tuesday, August 14th.
In other news, insider Raymond L. Polman sold 125,000 shares of the business’s stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of C$10.04, for a total value of C$1,255,000.00. Also, Director Rose Marjorie Co bought 5,926 shares of the stock in a transaction dated Friday, August 17th. The stock was bought at an average cost of C$6.75 per share, for a total transaction of C$40,000.50. Over the last quarter, insiders acquired 28,927 shares of company stock valued at $218,560 and sold 182,900 shares valued at $1,824,527.
First Majestic Silver Company Profile
First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.
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