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.

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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