The 52-week price range is $2.40-$7.05 and the company has a market capitalization of $1.01 billion. Analysts covering the shares maintain a consensus Strong Buy rating, according to Zacks Investment Research. Zero analyst has rated the stock with a sell rating, 4 has assigned a hold rating, 1 says it’s a buy, and 1 have assigned a strong buy rating to the company.
First Majestic Silver Corp (AG) on March 31, 2016 announced its 2015 Mineral Reserve and Resource estimates for its existing mineral property assets in Mexico as of December 31, 2015. Metal prices used to estimate the 2015 reserve estimates were reduced compared to previous estimates to: $17.50/oz for silver, $1,200/oz for gold, $0.85/lb for lead and $0.85/lb for zinc.
Metal content in the Proven and Probable Reserve category totaled 100.6 million ounces of silver, relatively unchanged from the Company’s previous estimate of 101.1 million ounces of silver. The most significant change to Mineral Reserves, apart from the addition of the Santa Elena mine, occurred at La Encantada where the old tailings were upgraded from Inferred Resources to Probable Reserves following the significant improvement in silver recoveries from 15% to 70% due to the roasting of tailings. This upgrade resulted in a 48% decrease in the silver reserve grade to 143 g/t due to a 109% increase in tonnes, mostly consisting of low grade tailings. Silver metal content in the Measured and Indicated Resource category totaled 115.2 million ounces, representing a 24% decrease from 2014 estimates primarily due to the reclassification of the La Luz project as a historical resource, offset by the addition of the Santa Elena mine. In addition, the silver metal content in the Inferred Resource totaled 184.9 million ounces, representing an increase of 9% compared to previous estimates primarily due to the addition of the La Joya property which was acquired as a result of the acquisition of SilverCrest Mines Ltd.
First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver projects in Mexico. The company owns and operates six silver producing mines, including the La Encantada Mine, La Parrilla Mine, Del Toro Mine, San Martin Mine, La Guitarra Mine, and Santa Elena Mine. It also holds interests in the Plomosas silver project situated in Sinaloa State; La Luz silver project located in San Luis Potosi State; and Jalisco group of properties located in various mining districts in Jalisco, Mexico. The company was formerly known as First Majestic Resource Corp. and changed its name to First Majestic Silver Corp. in November 2006. First Majestic Silver Corp. was founded in 1979 and is headquartered in Vancouver, Canada.
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