First Majestic Silver Corp. (AG) saw a significant decline of 5.07% in regular trading, crossing below its 5-day SMA, amid a broader market downturn where the Nasdaq-100 fell by 1.51% and the S&P 500 dropped by 0.85%.
Despite the overall market weakness, First Majestic's outlook remains promising due to surging silver prices and increased industrial demand. The company reported a 33% rise in industrial silver demand since 2020 and has acquired a 70% stake in the Cerra Los Gatos Mine, which is expected to enhance future production capacity significantly. Additionally, First Majestic's Q3 earnings showed mine operating earnings of $99 million, driven by increased silver production and a 31% rise in the average realized silver price.
The implications of these developments suggest that while the stock is currently facing downward pressure, the long-term fundamentals remain strong, driven by robust demand for silver in industrial applications and the company's strategic acquisitions.
Wall Street analysts forecast AG stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for AG is 15.06 USD with a low forecast of 12.50 USD and a high forecast of 17.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
Wall Street analysts forecast AG stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for AG is 15.06 USD with a low forecast of 12.50 USD and a high forecast of 17.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Buy
3 Hold
0 Sell
Hold
Current: 26.230
Low
12.50
Averages
15.06
High
17.50
Current: 26.230
Low
12.50
Averages
15.06
High
17.50
Scotiabank
Sector Perform
upgrade
$23
2026-01-26
New
Reason
Scotiabank
Price Target
$23
AI Analysis
2026-01-26
New
upgrade
Sector Perform
Reason
Scotiabank raised the firm's price target on First Majestic to $23 from $12.50 and keeps a Sector Perform rating on the shares. The firm is updating its price targets for Gold & Precious Minerals stocks under its coverage, the analyst tells investors. The firm has increased both gold and silver forecasts, supported by economic and geopolitical uncertainty as well as strong central bank buying.
H.C. Wainwright
NULL -> Buy
upgrade
2026-01-16
Reason
H.C. Wainwright
Price Target
2026-01-16
upgrade
NULL -> Buy
Reason
H.C. Wainwright raised the firm's price target on First Majestic to $24.50 from $17.50 and keeps a Buy rating on the shares after the company released its year-end production results.
Unlock Full Analyst Thesis， Get the complete breakdown of rating reason for AG
Unlock Now
Jefferies
Fahad Tariq
Buy -> Hold
downgrade
$18 -> $16
2025-12-07
Reason
Jefferies
Fahad Tariq
Price Target
$18 -> $16
2025-12-07
downgrade
Buy -> Hold
Reason
Jefferies analyst Fahad Tariq downgraded Ivanhoe Mines to Hold from Buy with a price target of C$16, down from C$18, as part of a 2026 preview for the metals and mining group. The firm remains bullish on gold equities, citing attractive valuations, but now more cautious on copper stocks given valuations heading into next year. Jefferies expects gold companies to expand margins and produce more free cash flow in 2026 versus 2025. The longer gold prices remain elevated, the more investor attention will turn to growth, the analyst tells investors in a research note. Its top gold picks are Barrick Mining (B), Alamos Gold (AG) and Royal Gold (RGLD). The firm's top copper picks is Hudbay (HBM).
Jefferies
Buy -> Hold
downgrade
$37 -> $40
2025-12-07
Reason
Jefferies
Price Target
$37 -> $40
2025-12-07
downgrade
Buy -> Hold
Reason
Jefferies downgraded Ero Copper to Hold from Buy with a price target of C$40, up from C$37, as part of a 2026 preview for the metals and mining group. The firm remains bullish on gold equities, citing attractive valuations, but now more cautious on copper stocks given valuations heading into next year. Jefferies expects gold companies to expand margins and produce more free cash flow in 2026 versus 2025. The longer gold prices remain elevated, the more investor attention will turn to growth, the analyst tells investors in a research note. Its top gold picks are Barrick Mining (B), Alamos Gold (AG) and Royal Gold (RGLD). The firm's top copper picks is Hudbay (HBM).
About AG
First Majestic Silver Corp. is a mining company. The Company is focused on silver and gold production in Mexico and the United States. It owns and operates approximately 350,000 hectares of land package, which include the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, the La Encantada Silver Mine, and a 70% joint venture interest in the Cerro Los Gatos Silver Mine as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, United States. The San Dimas Silver/Gold Mine is located over 130 kilometers (km) northwest of the city of Durango, Durango State, Mexico. The Santa Elena Silver/Gold Mine is located over 150 km northeast of the city of Hermosillo, Sonora, Mexico. The La Encantada Silver Mine is an underground mine located in the northern Mexico State of Coahuila, 708 km northeast of Torreon. The Cerro Los Gatos Mine is located around 120 kms south of Chihuahua City, Mexico.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
