First Majestic (TSX: FR), the Materials sector company was revisited on October 18, and remains undervalued for at least one analyst on the street. On October 18, analyst Daniel Earle gave a Buy rating to FR and set a C$12 price target.
According to TipRanks.com, Earle is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.6% and a 28.3% success rate. Earle covers the Basic Materials sector, focusing on stocks such as Torex Gold Resources Inc, Detour Gold Corporation, and First Majestic Silver.
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The word on The Street in general, suggests a Strong Buy analyst consensus rating for First Majestic with a C$10.63 average price target, implying a 30.4% upside from current levels. In a report issued on October 16, Roth Capital also maintained a Buy rating on the stock.
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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 692.8K.
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 Friday at C$8.15.
