In a report released today, Ovais Habib from Scotiabank maintained a Hold rating on First Majestic Silver (AG – Research Report), with a price target of $7.00. The company’s shares closed yesterday at $4.92.
According to TipRanks, Habib is an analyst with an average return of -1.9% and a 34.29% success rate. Habib covers the Basic Materials sector, focusing on stocks such as Pan American Silver, B2Gold, and SilverCrest Metals.
Currently, the analyst consensus on First Majestic Silver is a Hold with an average price target of $8.11.
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Based on First Majestic Silver’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $146.69 million and a GAAP net loss of $17.53 million. In comparison, last year the company earned a revenue of $159.44 million and had a net profit of $14.42 million
Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AG in relation to earlier this year.
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First Majestic Silver (AG) Company Description:
First Majestic Silver Corp. engages in the production, development, exploration and acquisition of mineral properties. It owns and operates producing mines in México including 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. The company was founded by Keith Neumeyer on September 26, 1979 and is headquartered in Vancouver, Canada.
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