Heiko Ihle, an analyst from H.C. Wainwright, reiterated the Buy rating on First Majestic Silver. The associated price target remains the same with $17.50.
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Heiko Ihle has given his Buy rating due to a combination of factors including First Majestic Silver’s impressive financial performance and strategic acquisitions. The company’s recent acquisition of Los Gatos has significantly boosted its revenue by 95% year-over-year, alongside a 30% increase in the realized price for each silver equivalent ounce, highlighting the favorable commodity pricing environment.
Moreover, the firm’s operational efficiency is evident through improved mine operating earnings and reduced cash costs. The exploration programs and future growth potential, supported by a strong cash position, further solidify the positive outlook. Additionally, the valuation based on several discounted cash flow models and a fixed valuation for AG’s First Mint aligns with industry standards, supporting the Buy rating with a price target of $17.50 per share.
In another report released on October 23, TR | OpenAI – 4o also upgraded the stock to a Buy with a C$19.50 price target.