#4 - First Majestic (NYSE:AG)
The first three stocks on this list have been gold producers. And while there’s a case to be made for the yellow metal today, there may be an even stronger case for silver. Which brings us to First Majestic (NYSE:AG). After spiking at the beginning of the year, AG stock has been a laggard. But simple supply/demand dynamics make a strong case for a move higher.
If you look at the recent infrastructure bill that is likely to pass through Congress, you’ll see an emphasis on electric vehicles and solar technology. These are two sectors that will continue to have strong demand for silver. In fact, according to data provided by the company, 57% of silver consumption comes from industrial applications.
First Majestic is also the only mining company that makes their own production available in the form of silver bullion. The company’s Bullion Store is open 24/7 for online ordering. Analysts give AG stock a consensus price target of $21 which would be a 54.87% gain from its current level.
About First Majestic Silver
First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.
Read More - Current Price
- $5.46
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 1 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $7.50 (37.4% Upside)
