BUZZ-First Majestic Silver Corp: 3 brokerages raise PT

Wed Jul 13, 2016 12:04pm EDT
 
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** Canadian silver producer's U.S.-listed shares up 7.2 pct at $16.52 in midday trading; Toronto-traded stock up 6.8 pct at C$21.44

** At least 3 brokerages raise PT on Toronto stock as they expect gold, silver prices to rise

** National Bank Financial most bullish on stock, raises PT to C$23.5 from C$17.5

** Brexit aftershocks to ramp up gold, silver prices, National Bank analysts write

** They see benign cost pressures, low industry congestion with few projects under construction and robust operating margins to support recovery in precious metals prices

** "We believe the firm remains well positioned to deliver on its guidance of 17.8-19.8 million silver equivalent ounces for the year," Rodman & Renshaw LLC analysts write

** 2 of 8 brokerages rate Toronto stock "buy", 4 "hold" and 2 "sell" or lower; median PT C$17

** Up to Tuesday's close, Toronto-listed stock had risen 243 pct in past 12 months