First Majestic Silver stock hits 52-week high at $8.71

First Majestic Silver Corp. (NYSE:AG) stock reached a significant milestone, hitting a 52-week high of $8.71. This marks a notable point in the company’s performance over the past year, reflecting positive investor sentiment and market conditions. The company, now valued at $4.18 billion, has demonstrated strong financial health with a robust current ratio of 3.19, indicating excellent liquidity management. According to InvestingPro analysis, the stock appears slightly overvalued at current levels. Over the past 12 months, First Majestic Silver has experienced a substantial increase in its stock price, with a 1-year change of 39.33%. The company has shown impressive revenue growth of 33.6% in the last twelve months, while maintaining moderate debt levels. This upward trajectory underscores the company’s growth and resilience in a competitive market environment, attracting attention from investors and analysts alike. InvestingPro subscribers have access to 10 additional key insights about AG’s performance and prospects, along with comprehensive financial analysis in the Pro Research Report.

In other recent news, First Majestic Silver reported a significant increase in production, with a 49% year-over-year rise in Silver Equivalent Ounces for the quarter. This surge included 7.7 million SEOs, featuring a notable 88% increase in silver production to 3.7 million ounces, alongside a modest 1% rise in gold production with 36,469 ounces. The company’s revenue growth was largely attributed to its recent acquisition of a 70% stake in the Cerro Los Gatos mine, which played a crucial role in this development. Additionally, other mines in First Majestic’s portfolio, such as Santa Elena, San Dimas, and La Encantada, also reported increased production compared to the previous year.

Operational improvements were specifically highlighted at the San Dimas mine, resulting in an 11% year-over-year rise in production. The company is actively pursuing an aggressive drilling strategy, with 28 drill rigs distributed across its assets, including seven each at Cerro Los Gatos and Santa Elena, 13 at San Dimas, and one at La Encantada. Analysts from H.C. Wainwright reaffirmed a Buy rating on First Majestic Silver with a price target of $11.00, citing confidence in the company’s operational efficiencies and the integration of the Cerro Los Gatos Mine. They expressed optimism about the company’s prospects, suggesting a promising outlook for 2025.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.