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.
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.
Recommended Story: Asset Allocation and Your Retirement
Receive News & Ratings for First Majestic Silver Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Majestic Silver and related companies with MarketBeat.com's FREE daily email newsletter.