According to The Fly, analysts seem to be optimistic about First Majestic (FR) lately, with another positive rating update this time from H.C. Wainwright. Analyst Heiko Ihle remains bullish on the stock.
Ihle commented:
“We highlight that First Majestic’s cash balance remained strong at the end of 3Q18 at C$72.4 million, which should allow the firm to continue investing its necessary capital at key assets (i.e., Elena) while the silver price remains depressed.”
According to TipRanks.com, Ihle is ranked 0 out of 5 stars with an average return of -10.6% and a 24.6% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.
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First Majestic has an analyst consensus of Strong Buy, with a price target consensus of C$10.63.
The company has a one-year high of C$11.09 and a one-year low of C$6.24. Currently, First Majestic has an average volume of 748.4K.
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 Wednesday at C$7.21.
