H.C. Wainwright Raises First Majestic Silver Corp. (AG) Price Target After Strong Quarter

First Majestic Silver Corp. (NYSE:AG) ranks among the best mineral stocks to invest in.

H.C. Wainwright Raises First Majestic Silver Corp. (AG) Price Target After Strong Quarter

On February 20, H.C. Wainwright boosted its price target for First Majestic Silver Corp. (NYSE:AG) to $30 from $24.50 with a Buy rating, following the company’s results release. The company’s earnings per share of $0.30 outperformed the expected $0.18 by 66.67%. Additionally, First Majestic Silver’s revenue exceeded expectations by 14.91%, reaching $463.9 million versus the expected $403.71 million.

Revenue from the company’s mines in San Dimas, Santa Elena, and La Encantada increased by 52%, 20%, and 54%, respectively, year-over-year. The revenue increases were primarily due to increased metal prices, with the company reporting an average silver retail value of $41.52 per ounce, a 47% increase year-over-year.

Looking ahead, First Majestic Silver Corp. (NYSE:AG) plans to generate 13-14 million pure silver ounces and 110,000-130,000 ounces of gold through 2026.

First Majestic Silver Corp. (NYSE:AG) is a Canadian mining company focused on the acquisition, exploration, development, and production of silver and gold properties in North America. Its main products are silver bullion and gold bullion.

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