BMO Capital analyst Kevin O’Halloran has maintained their neutral stance on AG stock, giving a Hold rating today.
Kevin O’Halloran’s rating is based on a combination of factors that reflect First Majestic Silver’s current market position and operational performance. The company reported a record quarterly silver production in the first quarter, driven by the addition of Cerro Los Gatos and operational improvements at San Dimas. This strong start to the year positions First Majestic well to achieve its 2025 production guidance. However, despite these positive developments, the stock’s elevated valuation relative to its peers suggests that it is appropriately priced at current levels.
While the company’s operational metrics, such as throughput and gold production, exceeded expectations, there were some areas where performance was mixed, such as the lower silver grade at Encantada. Additionally, the company’s exploration activities continue to progress, with significant drilling efforts across its Mexican mines. Given these factors, Kevin O’Halloran has opted for a Hold rating, indicating that the stock is fairly valued and investors may want to wait for further developments before making any buy or sell decisions.
In another report released today, Scotiabank also maintained a Hold rating on the stock with a $6.00 price target.