First Majestic Silver (TSE:AG) Sets New 12-Month High - What's Next?

Key Points

• First Majestic Silver's stock reached a new 52-week high of C$20.63 with a trading volume of over 1.27 million shares, up from a previous close of C$19.39.
• Multiple analysts have upgraded First Majestic Silver, with price targets raised significantly, including ATB Capital's increase from C$47.00 to C$52.00.
• The company's market capitalization is approximately C$10.07 billion, and it has a consensus rating of "Buy" with a price target of C$27.80.

First Majestic Silver Corp. (TSE:AG - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$20.63 and last traded at C$20.63, with a volume of 1272550 shares. The stock had previously closed at C$19.39.

Analyst Upgrades and Downgrades

AG has been the topic of a number of analyst reports. ATB Capital raised First Majestic Silver from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from C$47.00 to C$52.00 in a research note on Wednesday, August 6th. Cormark raised their price target on First Majestic Silver from C$17.50 to C$22.00 in a research note on Monday, October 6th. National Bankshares upgraded First Majestic Silver from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from C$20.00 to C$22.00 in a report on Monday, October 6th. National Bank Financial upgraded First Majestic Silver from a "hold" rating to a "strong-buy" rating in a report on Sunday, October 5th. Finally, BMO Capital Markets raised their price objective on First Majestic Silver from C$18.50 to C$21.00 in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of C$27.80.

First Majestic Silver Stock Performance

The firm has a fifty day simple moving average of C$14.41 and a 200-day simple moving average of C$11.48. The company has a market capitalization of C$10.07 billion, a PE ratio of -2,056.00 and a beta of 1.60.

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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