Gatos Silver shareholders vote to adopt First Majestic merger proposal
Written by Emily J. Thompson, Senior Investment Analyst
Merger Approval: Gatos Silver stockholders have voted in favor of the merger agreement with First Majestic, with approximately 71.3% of shares supporting the resolution at a special meeting.
Share Exchange Details: Upon completion of the merger, Gatos Silver stockholders will receive 2.55 shares of First Majestic for each share of Gatos Silver held, with the transaction expected to close before market open on January 16.
Analyst Views on AG
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 16.03 USD with a low forecast of 12.50 USD and a high forecast of 22.00 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.
5 Analyst Rating
2 Buy
3 Hold
0 Sell
Moderate Buy
Current: 20.340
Low
12.50
Averages
16.03
High
22.00
Current: 20.340
Low
12.50
Averages
16.03
High
22.00
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.
