First Majestic Silver Announces $60M Sale of Del Toro Mine

First Majestic Silver ( (TSE:AG) ) has issued an update.

First Majestic Silver Corp. has entered an agreement to sell its 100%-owned Del Toro Silver Mine in Zacatecas, Mexico, to Sierra Madre Gold & Silver Ltd. for up to $60 million through a combination of cash and shares. This transaction allows First Majestic to streamline its operations while providing Sierra Madre with an opportunity to enhance its asset base through a significant mining project, subject to several conditions including private placement financing and regulatory approvals.

The most recent analyst rating on (TSE:AG) stock is a Hold with a C$23.00 price target. To see the full list of analyst forecasts on First Majestic Silver stock, see the TSE:AG Stock Forecast page.

Spark’s Take on TSE:AG Stock

According to Spark, TipRanks’ AI Analyst, TSE:AG is a Neutral.

First Majestic Silver’s overall score is driven by strong financial performance and positive technical indicators. The strategic corporate event further supports the company’s growth prospects. However, the high P/E ratio and low dividend yield suggest potential overvaluation, which tempers the overall score.

To see Spark’s full report on TSE:AG stock, click here.

More about First Majestic Silver

First Majestic Silver Corp. operates in the mining industry, focusing on silver production and exploration. The company has a diverse portfolio of mining assets across the Americas and is a notable player in both the silver and precious metals markets.

Average Trading Volume: 2,433,734

Technical Sentiment Signal: Buy

Current Market Cap: C$11.07B

For an in-depth examination of AG stock, go to TipRanks’ Overview page.