Analyst Heiko Ihle from H.C. Wainwright reiterated a Buy rating on First Majestic Silver and keeping the price target at $30.00.
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Heiko Ihle has given his Buy rating due to a combination of factors that collectively position First Majestic Silver for enhanced long-term growth. While recent silver and gold output dipped slightly because of lower head grades, he views the shift to processing previously uneconomic material at stronger silver prices as a value-accretive strategy that extends mine life and supports healthier margins over time.
In addition, Ihle highlights meaningful gains in base metal production at Los Gatos and the company’s extensive drilling campaigns across key assets as strengthening future reserve visibility. He also sees the planned restart of the Jerritt Canyon mine, backed by a sizable capital program and a clear timeline toward renewed production, as a major catalyst that should boost overall production, improve operating leverage, and justify a bullish stance on the shares.
Ihle covers the Basic Materials sector, focusing on stocks such as Gold Resource, First Majestic Silver, and Avino Silver & Gold. According to TipRanks, Ihle has an average return of 60.9% and a 70.23% success rate on recommended stocks.
In another report released on April 2, BMO Capital also maintained a Buy rating on the stock with a C$35.00 price target.