First Majestic (AG) Skyrockets by Double-Digits on 22% PT Hike

First Majestic Silver Corp. (AG) saw its stock price jump by over 11% following a price target upgrade to $30 from $24.50 by HC Wainwright, which maintained a “buy” recommendation. The rally was fueled by the company’s return to profitability in the last year, with net income reaching $211 million and revenues more than doubling. The company also announced a quarterly dividend distribution.