First Majestic Silver (TSE:AG) Stock Rating Upgraded by TD Securities

Key Points

• First Majestic Silver's stock was upgraded by TD Securities from a "hold" to a "buy" rating, with a new target price of C$22.00, indicating a potential upside of 13.29% from its current price.
• Several other analysts have also increased their ratings, with National Bank Financial upgrading to "strong-buy" and ATB Capital raising their price target to C$52.00.
• Shares of First Majestic Silver rose 9.7% to C$19.42 in trading, significantly above its 12-month low of C$7.40 and nearing its high of C$19.78.

First Majestic Silver (TSE:AG - Get Free Report) was upgraded by stock analysts at TD Securities from a "hold" rating to a "buy" rating in a research note issued to investors on Wednesday, MarketBeat reports. The firm currently has a C$22.00 target price on the stock, up from their prior target price of C$14.00. TD Securities' price target would indicate a potential upside of 13.29% from the company's current price.

A number of other research analysts also recently issued reports on the stock. National Bank Financial upgraded shares of First Majestic Silver from a "hold" rating to a "strong-buy" rating in a research note on Sunday. National Bankshares upgraded shares of First Majestic Silver from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from C$20.00 to C$22.00 in a research note on Monday. ATB Capital upgraded shares of First Majestic Silver from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from C$47.00 to C$52.00 in a research note on Wednesday, August 6th. Finally, Cormark lifted their price target on shares of First Majestic Silver from C$17.50 to C$22.00 in a research note on Monday. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of C$29.50.

First Majestic Silver Stock Up 9.7%

Shares of AG traded up C$1.72 during trading on Wednesday, reaching C$19.42. 2,995,908 shares of the company traded hands, compared to its average volume of 1,539,163. The stock has a 50-day simple moving average of C$13.61 and a 200-day simple moving average of C$11.16. First Majestic Silver has a twelve month low of C$7.40 and a twelve month high of C$19.78. The stock has a market cap of C$9.49 billion, a PE ratio of -1,942.00 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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