First Majestic Silver (US:AG) Zhi Tong Cai Jing·2025-10-09 03:30Core Viewpoint - TD Cowen upgraded First Majestic Silver (AG.US) from "Hold" to "Buy" based on expected performance improvement and favorable macroeconomic trends, raising the target price from CAD 14 to CAD 22, resulting in a stock price increase of over 11% on the announcement day [1] Group 1: Company Performance - The Gatos mine is highlighted for its low-cost production advantage and strong performance, with expansion expected to start in 2026 [1] - New discoveries at the Santa Elena mine are seen as a key growth driver, likely to sustain strong silver production for the company [1] - The stock has experienced a year-to-date increase of over 147%, compared to a 14.16% rise in the S&P 500 index during the same period [2] Group 2: Market Dynamics - Silver prices are positively correlated with the company's performance, with silver futures rising by 3.31% to USD 49.42, supporting expectations for improved profitability [1] - Despite a general "Buy" rating from Wall Street, there is a divergence with Seeking Alpha analysts and quantitative models giving a "Hold" rating [1] - The stock received an A+ growth rating, but its valuation component scored a D-, impacting the overall score [1]