First Majestic Silver (TSE:AG) Hits New 52-Week High - Here's What Happened

Key Points

• First Majestic Silver shares hit a new 12-month high at C$13.02 during trading, indicating strong market interest.
• Analysts show mixed sentiments, with one Buy rating and two Hold ratings, while ATB Capital increased their price target significantly from C$47.00 to C$52.00.
• The company has a market capitalization of C$6.40 billion and operates multiple silver and gold mines in Mexico and the United States.

First Majestic Silver Corp. (TSE:AG - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as C$13.02 and last traded at C$12.57, with a volume of 456982 shares traded. The stock had previously closed at C$12.57.

Wall Street Analyst Weigh In

AG has been the subject of a number of analyst reports. Cormark boosted their price target on First Majestic Silver from C$14.00 to C$17.50 in a research note on Friday. ATB Capital upgraded First Majestic Silver from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from C$47.00 to C$52.00 in a report on Wednesday, August 6th. Finally, National Bank Financial upgraded First Majestic Silver to a "hold" rating in a report on Thursday, June 12th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of C$21.00.

First Majestic Silver Stock Up 1.2%

The company has a fifty day simple moving average of C$11.93 and a 200-day simple moving average of C$10.10. The firm has a market cap of C$6.20 billion, a P/E ratio of -1,269.00 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.