In a report released today, Heiko Ihle from H.C. Wainwright maintained a Buy rating on First Majestic Silver (NYSE: AG), with a price target of $10. The company’s shares closed yesterday at $7.43.
Ihle said:
“We maintain a 18x multiple to our 2018E CFPS, and round our blended estimate to reach our $10.00 per share PT. Risks. (1) Commodity price risk; (2) operating and technical risk; (3) political risk; and (4) financing risk.”
According to TipRanks.com, Ihle is a 4-star analyst with an average return of 4.5% and a 40.3% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for First Majestic Silver with a $9.50 average price target.
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Based on First Majestic Silver’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $5.59 million. In comparison, last year the company had a net profit of $1.41 million.
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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.
