Scotiabank lowered the firm’s price target on First Majestic (AG) to $6 from $6.50 and keeps a Sector Perform rating on the shares. The firm has updated its estimates for Q4 metal prices and FX rates for companies in the gold & precious minerals space, along with minor adjustments to 2024 estimates in advance to reporting, the analyst tells investors. 2024 was a very active period for marketing and acquisition transactions in the precious metals market and the firm expects this consolidation to continue in 2025.
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