First Majestic Stock Analysis:
According to 7 analysts, the average target price for First Majestic Silver Corp. over the next 12 months is CAD 12.95. The average analyst rating for the stock is “Buy”, indicating that the majority of analysts believe the stock will perform well. However, Stock Target Advisor’s own analysis of the stock is “Slightly Bearish”, which is based on a combination of positive and negative signals. The stock’s current price is CAD 11.00. The stock price has decreased by 7.17% over the past week, 2.22% over the past month and 25.93% over the last year.
Analysts Coverage Change:
Scotiabank Capital has a Sector Perform rating on First Majestic Silver Corp and has maintained their target price at $11.50. STA Research, on the other hand, has a Buy rating for the company and has set a higher target price of $15. H.C. Wainwright has lowered their target price from $12.5 to $12 for First Majestic Silver, but has maintained a Buy rating. This suggests that while H.C. Wainwright sees potential for the stock, they have slightly lowered their expectations for its performance. Overall, these ratings indicate that the analysts have a positive outlook for the company, but have varying levels of confidence in its future performance and potential for growth.
First Majestic Silver Corp. News:
First Majestic (AG:NYE)(FR:TSX) reported that in the fourth quarter of 2022, total production from it’s four operations, the San Dimas Silver/Gold Mine, the Jerritt Canyon Gold Mine, the Santa Elena Silver/Gold Mine, and the La Encantada Silver Mine, reached 7.6 million silver equivalent ounces. This consisted of 2.4 million silver ounces and 63,039 gold ounces. For 2022, total production reached a new company record of 31.3 million silver equivalent ounces. This includes 10.5 million silver ounces and 248,394 gold ounces, which represents a 16% increase in production compared to the previous year.
Looking ahead to 2023, the company expects to set a new production record with a guidance range of 33.2 to 37.1 million silver equivalent ounces, consisting of 10.0 to 11.1 million ounces of silver and 277,000 to 310,000 ounces of gold. The all-in sustaining cost is expected to be between $18.47 and $19.72 per silver equivalent ounce. Based on the midpoint of this guidance range, the company expects to see a 12% increase in silver equivalent ounces compared to the previous year.