H.C. Wainwright raised its price target for First Majestic Silver to $27.00 from $26.00. The firm reiterated its Buy rating based on balance sheet updates and strong cash generation.
The revision follows second-quarter financial results released on July 30. Revenue grew 57.3% year-over-year. Total revenue reached $415.5 million for the period. The company generated $194.6 million in free cash flow. Earnings per share missed consensus estimates.