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.
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.