Scotiabank raised the firm’s price target on First Majestic (AG) to $6.50 from $6 and keeps a Sector Perform rating on the shares. The company recently provided an update on its preliminary Q2 production, which the firm believes reinforces a positive outlook for the shares, the analyst tells investors. The improved production and cost outlooks “strongly suggest” the company is successfully integrating the Los Gatos operations while maintaining “operational excellence” at Santa Elena and San Dimas, the firm adds.
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