Dahlman Rose Forecasts First Majestic's (AG) Production Will Over Double from 2010 to 2014
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Price: $21.20 +1.68%
Rating Summary:
7 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 20
Rating Summary:
7 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 20
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Dahlman Rose is reiterating its Buy rating and $20.76 price target on shares of First Majestic Silver (NYSE: AG) and forecasts that production will over double by 2014 from 2010s rate.
The company owns all of its projects in its portfolio, which is made up of three producing silver mines, a fourth mine undergoing feasibility, and a fifth mine in planning stages. All of its mines are located in Mexico.
AG has experienced solid year-over-year growth with the replacement of its previous 1,000 tpd flotation mill with its new 3,750 tpd cyanidation mill facility. The company announced its La Parrilla Mine will increase production from 850 tpd to 1600 tpd by the end of 2011, The Del Toro Mine should begin production in Q3 2012, and that it began building a 1,000 tpd flotation mill in April 2011, which it is considering expanding throughput capacity to 2,000 tpd.
An analyst at Dahlam Rose comments, "first Majestic has a substantial resource base from which it can grow; on a company-wide basis, total reserves and resources amount to 291 million oz of silver. The company also holds multiple mining rights and owns vast amounts of undeveloped territory known to contain mineralization. The fully-owned Real de Catorce Project, purchased in 2009, presents an interesting target for exploration."
For more ratings news on First Majestic Silver click here and for the rating history of First Majestic Silver click here.
Shares of First Majestic Silver closed at $18.69 yesterday.
The company owns all of its projects in its portfolio, which is made up of three producing silver mines, a fourth mine undergoing feasibility, and a fifth mine in planning stages. All of its mines are located in Mexico.
AG has experienced solid year-over-year growth with the replacement of its previous 1,000 tpd flotation mill with its new 3,750 tpd cyanidation mill facility. The company announced its La Parrilla Mine will increase production from 850 tpd to 1600 tpd by the end of 2011, The Del Toro Mine should begin production in Q3 2012, and that it began building a 1,000 tpd flotation mill in April 2011, which it is considering expanding throughput capacity to 2,000 tpd.
An analyst at Dahlam Rose comments, "first Majestic has a substantial resource base from which it can grow; on a company-wide basis, total reserves and resources amount to 291 million oz of silver. The company also holds multiple mining rights and owns vast amounts of undeveloped territory known to contain mineralization. The fully-owned Real de Catorce Project, purchased in 2009, presents an interesting target for exploration."
For more ratings news on First Majestic Silver click here and for the rating history of First Majestic Silver click here.
Shares of First Majestic Silver closed at $18.69 yesterday.
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