First Majestic Silver (FR) Price Target Cut to C$11.00
First Majestic Silver (TSE:FR) (NYSE:AG) had its price objective trimmed by Cormark from C$11.50 to C$11.00 in a report issued on Wednesday morning, BayStreet.CA reports. Cormark also issued estimates for First Majestic Silver’s Q4 2019 earnings at $0.01 EPS and FY2020 earnings at $0.11 EPS.
Several other analysts have also recently issued reports on the company. National Bank Financial cut their target price on First Majestic Silver from C$9.00 to C$8.50 and set a sector perform rating for the company in a research report on Tuesday, January 15th. BMO Capital Markets cut First Majestic Silver from an outperform rating to a market perform rating and cut their target price for the stock from C$8.50 to C$8.25 in a research report on Tuesday, January 15th. Finally, B. Riley reiterated a neutral rating and set a C$6.00 target price on shares of First Majestic Silver in a research report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. First Majestic Silver presently has an average rating of Hold and a consensus price target of C$9.45.
Shares of FR opened at C$8.06 on Wednesday. The company has a debt-to-equity ratio of 26.13, a current ratio of 2.86 and a quick ratio of 2.23. The stock has a market capitalization of $1.59 billion and a price-to-earnings ratio of -7.25. First Majestic Silver has a 52 week low of C$6.12 and a 52 week high of C$11.09.
About First Majestic Silver
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 San Dimas Silver/Gold Mine covering an area of 71,867 hectares located in Durango; the Santa Elena Silver/Gold Mine covering an area of 101,772 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco, as well as 1,296 hectares of surface land; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; and Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas in Mexico.
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