Is this U.S.-China selloff a buy? A top Wall Street voice weighs in
Investing.com - TD Securities upgraded First Majestic Silver Corp. (NYSE:AG) from Hold to Buy and significantly raised its price target to C$22.00 from C$14.00.
The upgrade comes as TD Securities cited improving fundamentals at the silver mining company, backed by new discoveries and planned expansion at its Santa Elena mine and Gatos Silver operations.
The financial services firm noted that these developments provide First Majestic with strong leverage to higher silver prices, positioning the company to potentially benefit from favorable market conditions.
TD Securities’ analysts recently conducted a site visit to the company’s Gatos operations, which reinforced their constructive view of what they described as "flagship operations" with additional upside potential through optimization.
The significant price target increase also reflects TD Securities’ updated precious metals price forecast, suggesting greater confidence in the silver market outlook alongside the company-specific improvements identified at First Majestic’s key mining properties.
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