Markets

Analyst Actions: CIBC Cuts First Majestic Silver Price Target to $29

First Majestic Silver Corp. (FR.TO) released a pre-feasibility study on the La Parilla silver mine in Mexico, which included updated reserves and capital requirements for the ongoing expansion, the Globe and Mail reported. CIBC World Markets Inc. analyst Brian Quast reportedly said in a research note today "Despite increased reserves and throughput, our valuation for the mine falls slightly due to lower grades and increased costs."

CIBC World maintained a "sector performer" rating but cut his price target by $1 to $29.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More