H.C. Wainwright Thinks First Majestic Silver’s Stock is Going to Recover

H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on First Majestic Silver (AGResearch Report) today and set a price target of $12.50. The company’s shares closed last Friday at $6.65, close to its 52-week low of $6.47.

According to TipRanks.com, Ihle is ranked 0 out of 5 stars with an average return of -14.7% and a 23.0% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Tanzanian Royalty Exploration, and Northern Dynasty Minerals.

Currently, the analyst consensus on First Majestic Silver is a Hold with an average price target of $10.19.

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The company has a one-year high of $14.67 and a one-year low of $6.47. Currently, First Majestic Silver has an average volume of 6.39M.

Based on the recent corporate insider activity of 118 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AG in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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