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Analyst Actions: First Majestic Silver Issued Lower Target Price at BMO Capital; Reaffirmed with Market Perform
10:53 AM EDT, 08/14/2018 (MT Newswires) -- First Majestic Silver (FR.TO) added about 1% in recent trade after BMO Capital reduced its target price on the stock to $8.75 while keeping a market perform rating.
BMO said First Majestic offers the highest exposure to silver in its coverage universe. In recent years, the company has underspent on exploration and development, and is now playing catch up. The San Dimas acquisition bolster's First Majestic's reserve base with the addition of a quality long lived asset.