First Majestic Silver (AG) Gets a Buy Rating from TD Securities

By Austin Angelo

According to The Fly, tD Securities analyst Daniel Earle reiterated a Buy rating on First Majestic Silver (AGResearch Report) on November 7. The company’s shares closed yesterday at $5.54.

According to TipRanks.com, Earle has 0 stars on 0-5 star ranking scale with an average return of -10.1% and a 26.4% success rate. Earle covers the Basic Materials sector, focusing on stocks such as Detour Gold Corporation, Guyana Goldfields Inc, and Tahoe Resources.

Currently, the analyst consensus on First Majestic Silver is a Strong Buy with an average price target of $8.50, a 53.4% upside from current levels. In a report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $9 price target.

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Based on First Majestic Silver’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $5.9 million. In comparison, last year the company had a GAAP net loss of $1.32 million.

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First Majestic Silver Corp. engages in the production, development, exploration and acquisition of mineral properties. It owns and operates producing mines in México such as La Encantada Silver Mine; La Parrilla Silver Mine; San Martin Silver Mine; Del Toro Silver Mine; Santa Elena Silver/Gold Mine; and San Dimas Silver/Gold Mine.