First Majestic Silver (TSE:FR) Price Target Raised to C$11.50 at HC Wainwright

First Majestic Silver (TSE:FR) (NYSE:AG) had its price objective lifted by HC Wainwright from C$8.00 to C$11.50 in a research report released on Monday morning, BayStreet.CA reports. The firm currently has a buy rating on the mining company’s stock.

Several other equities analysts also recently weighed in on the company. TD Securities increased their target price on First Majestic Silver from C$13.00 to C$17.50 and gave the stock a buy rating in a research report on Thursday, August 8th. National Bank Financial increased their target price on First Majestic Silver from C$13.50 to C$14.00 and gave the stock a sector perform rating in a research report on Monday. Finally, BMO Capital Markets increased their target price on First Majestic Silver from C$9.25 to C$12.00 in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of C$12.00.

Shares of TSE:FR opened at C$13.72 on Monday. The company has a quick ratio of 2.59, a current ratio of 3.13 and a debt-to-equity ratio of 25.16. First Majestic Silver has a 52-week low of C$6.12 and a 52-week high of C$14.70. The stock’s fifty day simple moving average is C$12.53 and its 200-day simple moving average is C$9.56. The company has a market capitalization of $2.84 billion and a P/E ratio of -15.95.

In other news, Director David Andrew Shaw sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$10.52, for a total value of C$105,200.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at approximately C$420,800. Also, Senior Officer Karen Liu sold 12,500 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of C$14.35, for a total value of C$179,375.00. Insiders have sold 129,699 shares of company stock worth $1,581,348 over the last quarter.

First Majestic Silver Company Profile

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. It owns and operates six silver producing mines, including the San Dimas Silver/Gold Mine covering an area of 71,867 hectares located in Durango; the Santa Elena Silver/Gold Mine covering an area of 101,772 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco, as well as 1,296 hectares of surface land; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; and Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas in Mexico.

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Analyst Recommendations for First Majestic Silver (TSE:FR)

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