Cormark Securities raises First Majestic PT

First Majestic Silver

06/10/2025 14:16

** Cormark Securities raises PT on Canada-based miner First Majestic AG.TO to C$22 from C$17.5

** The new price target represents a 30% upside to the stock's last close

** Brokerage says First Majestic's exploration success and throughput expansion support a higher valuation

** "Given the strong performance of the silver price this year, we would expect reserve pricing to be increased to the $28.00-30.00/oz range, which would add ounces but modestly decrease reserve grades"- Cormark Securities

** Brokerage expects silver price strength and district-scale upside at Los Gatos to extend mine life

** 2 of 5 brokerages rate the stock "buy" or higher, 3 "hold"; their median PT is C$14- data compiled by LSEG

** Up to last close, stock up 114% YTD

 (Reporting by Dharna Bafna in Bengaluru)

 ((Dharna.bafna@thomsonreuters.com))