BMO Capital Markets increases First Majestic Silver (TSE: FR) target price to CAD 13.25
First Majestic Silver (TSE: FR) (NYSE: AG) BMO Capital Markets raised its target price from CAD 13.00 to CAD 13.25 in a report released on Wednesday, reports BayStreet.CA. BMO Capital Markets’ price target indicates a potential decrease of 13.57% from the previous close of trading.
FR has been the subject of several other reports. Cormark lowered its price target for First Majestic Silver from CAD 26.00 to CAD 23.00 and on Thursday the 19th. HC Wainwright reiterated a “Buy” rating in a research report on Wednesday and set a price target of 25.00 CAD for the shares of First Majestic Silver. National Bankshares lowered its price target on First Majestic Silver stock from $ 21.00 to $ 18.00 and issued a sector performance rating for the stock in a report dated Friday, September 10th. TD Securities lowered its price target on First Majestic Silver stock from $ 21.00 to $ 20.00 and gave the stock a “hold” rating in a research report on Tuesday, August 17th. Finally, National Bank Financial cut its price target on First Majestic Silver stock to $ 18.00 and issued a sector performance rating for the company in a report released on Friday, September 10th. Three investment analysts have rated the stock with a hold rating and two with a buy rating. The stock currently has a consensus rating of “Hold” and an average price target of $ 19.54, according to MarketBeat.com.
TSE: FR shares rose $ 1.02 during midday trading on Wednesday to hit $ 15.33. The company’s share had a trading volume of 570,018 shares compared to an average volume of 927,324 shares. The company’s 50 day simple moving average is CAD 15.43 and the 200 day simple moving average is CAD 18.15. The company has a debt of 13.76, a current metric of 3.08 and a quick ratio of 2.64. First Majestic Silver has a 52-week low of C $ 12.56 and a 52-week high of C $ 30.75. The company has a market capitalization of $ 3.93 billion and a P / E of 34.07.
First Majestic Silver (TSE: FR) (NYSE: AG) last released its quarterly earnings data on Monday, August 16th. The mining company reported earnings per share of $ 0.06 for the quarter, missing the consensus estimate of $ 0.12 by $ 0.06. The company had sales of $ 189.31 million for the quarter. On average, analysts predict that First Majestic Silver will generate earnings per share of 0.5299999 for the current fiscal year.
In related news, Senior Officer Raymond L. Polman sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 9th. The shares were sold at an average price of C $ 15.63 for a total value of C $ 78,150.00. Upon completion of the transaction, the Insider now owns 109,200 shares in the company valued at approximately C $ 1,706,796. In addition, director Douglas John Penrose sold 12,000 shares of the stock in a transaction dated Friday, October 1. The shares were sold at an average price of $ 14.27 for a total value of $ 171,242.40. Upon completion of the transaction, the director now owns 31,295 shares in the company valued at $ 446,585.91. Insiders have bought 6,000 shares in the company for $ 94,640 in the past three months.
About First Majestic Silver
First Majestic Silver Corp. is engaged in the acquisition, exploration, development and production of mineral properties with a focus on silver and gold production in Mexico. It holds 100% interest in the San Dimas silver / gold mine, which comprises 119 concessions covering 71,839 hectares in the states of Durango and Sinaloa; the Santa Elena silver / gold mine consists of 32 concessions covering 102,172 hectares in Sonora; and the La Encantada Silver Mine comprises 22 concessions covering 4,076 hectares in Coahuila and 1,343 hectares of land.
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