First Majestic (FR), the Materials sector company, has received a rating update from a Wall Street analyst today. Analyst Don DeMarco from National Bank reiterated a Hold rating, with a C$8.50 price target.
According to TipRanks.com, DeMarco is a 3-star analyst with an average return of 5.5% and a 60.0% success rate. DeMarco covers the Basic Materials sector, focusing on stocks such as Golden Star Resources Ltd, OceanaGold Corporation, and SilverCrest Metals Inc.
Currently, the analyst consensus on First Majestic is a Moderate Buy with an average price target of C$9.58, a 34.0% upside from current levels. In a report released yesterday, BMO Capital also downgraded the stock to Hold with a C$8.25 price target.
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First Majestic’s market cap is currently C$1.54B and has a P/E ratio of 0. The company has a Price to Book ratio of 1.57.
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 Tuesday at C$7.15.
