First Majestic Silver (TSE:FR) (NYSE:AG) had its price objective cut by National Bank Financial from C$11.50 to C$9.50 in a research note issued to investors on Tuesday. The brokerage currently has a “sector perform” rating on the mining company’s stock. National Bank Financial’s target price would suggest a potential upside of 31.03% from the company’s current price.
FR has been the topic of several other research reports. TD Securities upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating and lifted their target price for the company from C$11.00 to C$14.00 in a research report on Tuesday, May 15th. Roth Capital restated a “buy” rating on shares of First Majestic Silver in a research report on Wednesday, April 25th. Cormark lowered their price target 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 report on Wednesday, July 18th. Finally, BMO Capital Markets lowered their price target on shares of First Majestic Silver from C$9.25 to C$8.75 and set a “market perform” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. First Majestic Silver has an average rating of “Buy” and a consensus price target of C$10.94.
Shares of TSE FR traded up C$0.02 during trading on Tuesday, hitting C$7.25. The company had a trading volume of 523,592 shares, compared to its average volume of 700,797. First Majestic Silver has a fifty-two week low of C$6.24 and a fifty-two 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.
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