ATB Cormark Capital Markets Upgrades First Majestic Silver (TSE:AG) to “Outperform”

First Majestic Silver (TSE:AG) was upgraded by analysts at ATB Cormark Capital Markets from a “sector perform” rating to an “outperform” rating in a research report issued on Friday,BayStreet.CA reports. The firm currently has a C$37.00 price objective on the stock, up from their prior price objective of C$36.00. ATB Cormark Capital Markets’ price target would indicate a potential upside of 52.96% from the company’s current price.

Several other analysts have also recently commented on the stock. Scotiabank upgraded shares of First Majestic Silver to a “hold” rating in a research note on Thursday, April 23rd. BMO Capital Markets upgraded First Majestic Silver from a “hold” rating to an “outperform” rating and set a C$35.00 price target on the stock in a report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$30.40.

First Majestic Silver Stock Down 0.7%

Shares of First Majestic Silver stock traded down C$0.16 during trading on Friday, reaching C$24.19. The company’s stock had a trading volume of 863,733 shares, compared to its average volume of 1,924,616. The business has a 50 day moving average price of C$26.42 and a 200-day moving average price of C$28.86. First Majestic Silver has a 12-month low of C$10.69 and a 12-month high of C$43.69. The company has a market capitalization of C$11.94 billion, a P/E ratio of 41.00 and a beta of 2.79.

First Majestic Silver (TSE:AG) last released its earnings results on Tuesday, May 12th. The company reported C$0.43 EPS for the quarter. First Majestic Silver had a return on equity of 10.82% and a net margin of 19.45%.The company had revenue of C$662.71 million during the quarter. Research analysts predict that First Majestic Silver will post 0.4623323 EPS for the current fiscal year.

First Majestic Silver Company Profile

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.