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National Bank Maintains Their Hold Rating on First Majestic (FR)


The Materials sector company, First Majestic (FR), has received a rating update from a Wall Street analyst today. Analyst Don DeMarco from National Bank rated First Majestic (FR) a Hold, setting a C$8.75 price target.

According to TipRanks.com, DeMarco is a 1-star analyst with an average return of -3.7% and a 53.3% success rate. DeMarco covers the Basic Materials sector, focusing on stocks such as Golden Star Resources Ltd, SilverCrest Metals Inc, 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 average price target.

Based on First Majestic’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$7.72 million. In comparison, last year the company had a GAAP net loss of C$1.65 million.

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 Thursday at C$7.23.