A study of analyst recommendations at the major brokerages shows that First Majestic Silver Corp (Symbol: AG) is the #31 broker analyst pick, on average, out of the 50 stocks making up the Metals Channel Global Mining Titans Index, according to Metals Channel. The Metals Channel Global Mining Titans Index is comprised of the top fifty global leaders from the metals and mining sector. The companies listed in the Metals Channel Global Mining Titans Index are not fixed, but instead variable — updating on a continuous basis to reflect the changing market environment with respect to commodity prices, government policy and market volatility.
In forming this rank, the analyst opinions from the major brokerage houses were tallied, and averaged; then, the underlying components of the Metals Channel Global Mining Titans Index were ranked according to those averages. Investors often interpret analyst opinions from different angles — when companies have a low rank among analysts, it isn't necessarily the case that investors should conclude that the stock will perform poorly. It can, of course, but a bullish investor could also take the contrarian angle and read into the data that there is lots of room for upside because the stock is so out of favor.
AG operates in the Precious Metals sector, among companies like Newmont Goldcorp Corp (NEM) which is up about 0.1% today, and Barrick Gold Corp. (GOLD) trading lower by about 0.4%. Below is a three month price history chart comparing the stock performance of AG, versus NEM and GOLD.
AG is currently trading up about 1.3% midday Thursday.