First Majestic Silver (TSE:AG) Raised to Outperform at National Bankshares

Key Points

• First Majestic Silver has been upgraded from a "sector perform" to an "outperform" rating by analysts at National Bankshares, with a new target price of C$22.00, indicating a potential upside of 21.82%.
• Multiple analysts have recently rated First Majestic Silver, resulting in a consensus rating of "Moderate Buy" and a consensus price target of C$32.00 for the stock.
• The stock of First Majestic Silver has seen significant trading activity, reaching C$18.06 during mid-day trading, with a considerable increase in volume compared to its average.

First Majestic Silver (TSE:AG - Get Free Report) was upgraded by stock analysts at National Bankshares from a "sector perform" rating to an "outperform" rating in a report issued on Monday,BayStreet.CA reports. The brokerage currently has a C$22.00 target price on the stock, up from their prior target price of C$20.00. National Bankshares' price target would indicate a potential upside of 21.82% from the stock's previous close.

Several other equities analysts have also recently issued reports on the company. National Bank Financial upgraded First Majestic Silver to a "hold" rating in a research report on Thursday, June 12th. ATB Capital raised shares of First Majestic Silver from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from C$47.00 to C$52.00 in a research report on Wednesday, August 6th. Finally, Cormark raised their price objective on shares of First Majestic Silver from C$17.50 to C$22.00 in a research note on Monday. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$32.00.

First Majestic Silver Price Performance

Shares of TSE AG traded up C$1.14 during mid-day trading on Monday, hitting C$18.06. The company had a trading volume of 3,331,798 shares, compared to its average volume of 1,521,032. The firm's 50 day simple moving average is C$13.36 and its two-hundred day simple moving average is C$11.06. The stock has a market cap of C$8.82 billion, a price-to-earnings ratio of -1,806.00 and a beta of 1.60. First Majestic Silver has a 12 month low of C$7.40 and a 12 month high of C$18.92.

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.

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