Short Term Price Target on First Majestic Silver (AG)

First Majestic Silver (NYSE:AG) : 7 investment research analysts covering First Majestic Silver (NYSE:AG) have an average price target of $10.12 for the near short term. The highest target price given by the Brokerage Firm to the stock is $14 and the lowest target is $4 for the short term. Analysts expect the variance to be within $4 of the average price.

Shares of First Majestic Silver Corp. rose by 9.52% in the last five trading days and 31.59% for the last 4 weeks. First Majestic Silver Corp. is up 108.6% in the last 3-month period. Year-to-Date the stock performance stands at 315.29%.

First Majestic Silver (NYSE:AG) : 1 brokerage houses believe that First Majestic Silver (NYSE:AG) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 4 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on First Majestic Silver (NYSE:AG). Zacks Investment Research suggests a Strong Buy with a rank of 1. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 7 Wall Street Analysts endorse the stock as a Hold with a rating of 2.86.

First Majestic Silver (NYSE:AG): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $13.30 and $13.03 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $13.61. The buying momentum continued till the end and the stock did not give up its gains. It closed at $13.58, notching a gain of 3.51% for the day. The total traded volume was 5,209,299 . The stock had closed at $13.12 on the previous day.

First Majestic Silver Corp is engaged in the business of silver production, development, exploration, and acquisition of mineral properties with a focus on silver production in Mexico. The Company has eight segments, including five operating segments located in Mexico, one development project in Mexico, one retail market segment in Canada and one silver trading segment in Europe. Corporate and eliminations consists primarily of the Companys other exploration properties. All of the Companys operations are within the mining industry and its products are silver dore, silver?lead and silver?zinc concentrates. Its mine and properties include La Encantada Silver Mine, La Parrilla Silver Mine, Del Toro Silver Mine, San Martin Silver Mine, La Guitarra Silver Mine, La Luz Silver Project, Plomosas Silver Project and Jalisco Group of Properties. It other properties include the Penasco Quemado Silver Project, the La Frazada Silver Project and the Los Lobos Silver Project in the State of Sonora.

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