In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on First Majestic Silver (AG), with a price target of $11.50. The company’s shares closed last Monday at $10.33.
According to TipRanks.com, Ihle is a 1-star analyst with an average return of 0.0% and a 40.8% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Golden Star Resources, and Great Panther Silver.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for First Majestic Silver with a $9.19 average price target.
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Based on First Majestic Silver’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $8.56 million. In comparison, last year the company had a GAAP net loss of $164 million.
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First Majestic Silver Corp. engages in the production, development, exploration and acquisition of mineral properties. It owns and operates producing mines in México including 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.
