December 22, 2017 / 4:04 PM / a year ago

BUZZ-First Majestic Silver Corp: BMO cuts to 'underperform'

** Canada-based silver miner’s shares down 9.3 pct at C$8.82, U.S.-listed shares fall 9.7 pct to $6.90

** BMO downgrades to “underperform” from “market perform”, cuts PT to C$7.50 from C$9.00

** Co has under-spent on exploration and development in recent years and is now playing catch-up; share valuation too high compared to peers - BMO

** Up to Thursday’s close, FR stock had risen 10 pct in the last three months, compared to rivals Endeavour Silver Corp and MAG Silver’s rise of 8 pct and 4 pct, respectively

** 4 of 8 brokerages rate First Majestic’s Toronto stock “buy” or higher, 3 “hold” and 1 “sell”; their median PT is C$11.26 (Reporting by Karan Nagarkatti)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below