First Majestic Silver (FR) Upgraded by BMO Capital Markets to “Outperform”

First Majestic Silver (TSE:FR) (NYSE:AG) was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Monday. The brokerage currently has a C$9.50 price objective on the mining company’s stock, up from their prior price objective of C$8.75. BMO Capital Markets’ price target would indicate a potential upside of 25.16% from the company’s current price.

FR has been the topic of several other reports. National Bank Financial lowered their target price on shares of First Majestic Silver from C$11.50 to C$9.50 and set a “sector perform” rating on the stock in a report on Tuesday, August 14th. TD Securities raised shares of First Majestic Silver from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$11.00 to C$14.00 in a research note on Tuesday, May 15th. Finally, Cormark decreased their price objective on shares of First Majestic Silver from C$14.00 to C$13.00 and set a “c$9.03” rating on the stock in a research note on Wednesday, July 18th. Four research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of C$11.13.

Shares of FR traded up C$0.43 during mid-day trading on Monday, hitting C$7.59. 833,797 shares of the company’s stock were exchanged, compared to its average volume of 715,938. First Majestic Silver has a 52 week low of C$6.24 and a 52 week high of C$11.09.

In related news, Director Robert A. Mccallum sold 5,000 shares of First Majestic Silver stock in a transaction that occurred on Tuesday, July 17th. The shares were sold at an average price of C$9.09, for a total value of C$45,450.00. Also, Director Rose Marjorie Co acquired 5,926 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The stock was purchased at an average cost of C$6.75 per share, for a total transaction of C$40,000.50. Over the last three months, insiders purchased 28,927 shares of company stock worth $218,560 and sold 182,900 shares worth $1,824,527.

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 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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