First Majestic Silver (TSE:AG) Reaches New 1-Year High - Here's What Happened

Key Points

• First Majestic Silver Corp. achieved a new 52-week high in share price, trading at a peak of C$17.62 during Monday's session.
• Analysts have raised their price targets for the company, with Cormark increasing their target from C$14.00 to C$17.50 and ATB Capital raising theirs from C$47.00 to C$52.00.
• The stock currently holds an average rating of "Hold" with a consensus target price of C$34.75 among equity research analysts.

First Majestic Silver Corp. (TSE:AG - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as C$17.62 and last traded at C$17.42, with a volume of 813167 shares changing hands. The stock had previously closed at C$16.93.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AG. Cormark boosted their price target on First Majestic Silver from C$14.00 to C$17.50 in a report on Friday, September 5th. National Bank Financial upgraded First Majestic Silver to a "hold" rating in a report on Thursday, June 12th. Finally, ATB Capital upgraded First Majestic Silver from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from C$47.00 to C$52.00 in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of C$34.75.

First Majestic Silver Price Performance

The business has a 50-day moving average of C$12.85 and a 200-day moving average of C$10.82. The firm has a market cap of C$8.59 billion, a price-to-earnings ratio of -1,758.00 and a beta of 1.15.

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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