TD Securities upgraded First Majestic (AG) to Buy from Hold with a price target of C$22, up from C$14. The firm sees the company’s Gatos site driving mining growth and share outperformance. First Majestic is seeing improving fundamentals on new discoveries and planned expansion at Santa Elena and Gatos, which bring strong leverage to higher silver prices, the analyst tells investors in a research note.
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Read More on AG:
- Mixed options sentiment in First Majestic Silver with shares down 1.21%
- First Majestic price target raised to C$18.50 from C$17.50 at BMO Capital
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- Mixed options sentiment in First Majestic Silver with shares down 2.05%