GARP Research Maintains a 'Buy' on First Majestic Silver (AG); Positive on Silvermex Acquisition
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Price: $21.23 +0.19%
Rating Summary:
7 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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GARP Research maintains a 'Buy' on First Majestic Silver (NYSE: AG) price target of $16.00.
Analyat, Seth Dadds, said, "First Majestic is acquiring junior silver producer Silvermex in a stock deal valued at roughly $150m. Although Silvermex’s flagship mine La Guitarra has operational issues, we view it as an intriguing asset which can benefit from First Majestic’s scale and expertise. We like the long-term potential offered by its sizable high-grade silver resource and large under-explored land package. We think Silvermex could deliver 1.8 million ounces of silver in 2014, lifting First Majestic’s total output above 15 million ounces (up 120% from 2011)."
For an analyst ratings summary and ratings history on First Majestic Silver click here. For more ratings news on First Majestic Silver click here.
Shares of First Majestic Silver closed at $15.72 yesterday.
Analyat, Seth Dadds, said, "First Majestic is acquiring junior silver producer Silvermex in a stock deal valued at roughly $150m. Although Silvermex’s flagship mine La Guitarra has operational issues, we view it as an intriguing asset which can benefit from First Majestic’s scale and expertise. We like the long-term potential offered by its sizable high-grade silver resource and large under-explored land package. We think Silvermex could deliver 1.8 million ounces of silver in 2014, lifting First Majestic’s total output above 15 million ounces (up 120% from 2011)."
For an analyst ratings summary and ratings history on First Majestic Silver click here. For more ratings news on First Majestic Silver click here.
Shares of First Majestic Silver closed at $15.72 yesterday.
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