In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, First Majestic (TSX: FR). The company received a Buy today from BMO Capital’s analyst Ryan Thompson, with a C$9.50 price target.
According to TipRanks.com, Thompson is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -12.1% and a 25.0% success rate. Thompson covers the Basic Materials sector, focusing on stocks such as First Majestic Silver, Hecla Mining Company, and Coeur Mining.
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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for First Majestic with a C$11 average price target, which is a 44.5% upside from current levels. In a report issued on August 13, TD Securities also reiterated a Buy rating on the stock with a C$12.50 price target.
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First Majestic’s market cap is currently C$1.38B 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 business of the production, development, exploration, and acquisition of mineral properties. It focuses in the silver assets of Santa Elena Silver of Gold Mine, La Encantada Silver Mine, La Parrilla Silver Mine, Del Toro Silver Mine, San Martin Silver Mine, and the La Guitarra Silver Mine.
The company’s shares closed on Monday at C$7.61.
