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First Majestic (FR) Gets a Buy Rating from TD Securities


The Materials sector company, First Majestic (FR), has received a rating update from a Wall Street analyst on November 7. On November 7, analyst Daniel Earle gave a Buy rating to FR and set a C$12 price target.

According to TipRanks.com, Earle has 0 stars on 0-5 star ranking scale with an average return of -10.1% and a 26.4% success rate. Earle covers the Basic Materials sector, focusing on stocks such as Detour Gold Corporation, First Majestic Silver, and Guyana Goldfields Inc.

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Currently, the analyst consensus on First Majestic is a Strong Buy with an average price target of C$10, implying a 37.0% upside from current levels. In a report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock.

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First Majestic’s market cap is currently C$1.41B and has a P/E ratio of 0. The company has a Price to Book ratio of 1.45.

First Majestic Silver Corp. engages in the production, development, exploration and acquisition of mineral properties. It owns and operates producing mines in México such as La Encantada Silver Mine; La Parrilla Silver Mine; San Martin Silver Mine; Del Toro Silver Mine; Santa Elena Silver/Gold Mine; and San Dimas Silver/Gold Mine.

The company’s shares closed on Thursday at C$7.30.