With silver currently trading at an incredible discount to gold and the silver supply crunch in full effect, the only question on the table now is how far the silver price will run. Experts are weighing in and their price targets vary, but insiders are loading up in anticipation of historically unprecedented upside.
If anybody has a track record of calling the moves in silver, it’s Keith Neumeyer, founder and CEO of First Majestic Silver (CAD: FR, NYSE: AG). Mr. Neumeyer founded First Majestic back in 2002, and over the years, countless investors have used the company’s shares as a convenient, leveraged, and pure play in silver.
First Majestic owns three producing silver mines in Mexico and, under Mr. Neumeyer’s leadership, the company’s stock has made impressive gains since it went public. But the lion’s share of the gains are still ahead of us if Mr. Neumeyer’s thesis of $100+ silver comes to fruition.
He’s been spot-on many times before, so don’t be surprised if he’s right about this one. Mr. Neumeyer cites a number of factors in silver’s favor, including the government’s penchant for printing money, a global economy in distress, an imbalance in silver’s supply and demand, and gold’s new bull market – plus silver’s consistent record of surging after gold moves up.
To capitalize on this, investors can own silver bullion along with shares of First Majestic Silver stock as the company produces exceptional quantities of silver. Believe it or not, the company produced 6.2 million silver-equivalent ounces in just the first quarter of this year, thereby achieving consolidated average silver recoveries of 89%, the highest in the company’s 17-year history.
Other highlights of 2020’s first quarter include revenues of $86.1 million; a reduction in cash costs of 19% down to $5.16 per payable silver ounce; super-low all-in sustaining costs (AISC) of $12.99 per payable silver ounce; and mine operating earnings of $21.1 million, up 106% compared to Q1 2019.
The price of silver is already above First Majestic’s AISC of $12.99 per payable silver ounce and the prospect of $100+ silver makes the current share price an outstanding value. The company’s ability to get silver out of the ground at a reduced cost makes First Majestic shares a de-risked proposition for both entry-level and more experienced investors.
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For a longer-term perspective, we can observe that at the end of 2019, First Majestic’s three operating mines indicated a whopping 146.5 million silver-equivalent ounces of Proven and Probable Reserves. With so much silver available to this company, a strong move in the spot silver price could have a marked and sustained effect on First Majestic stock shares.
Investors have every right to be concerned about the company’s standing as the coronavirus continues to impact the global economy. Fortunately, Mr. Neumeyer has positive news to share on that front: “To date, First Majestic has not experienced any incidents related to COVID-19 at its sites or corporate offices,” he reports.
A position in First Majestic shares is all that investors need now as we’ll all find out soon enough when – and how far – silver will fly.
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We are not brokers, investment or financial advisers, and you should not rely on the information herein as investment advice. We are a marketing company. If you are seeking personal investment advice, please contact a qualified and registered broker, investment adviser or financial adviser. You should not make any investment decisions based on our communications. You should know that we have been paid two hundred thousand dollars and received twenty five thousand stock options with an exercise price of fifteen dollars and ninety three canadian cents by First Majestic Silver Corp. (AG) as consideration for a one year digital marketing campaign, which includes this communication. You should know that we intend to exercise options and/or sell shares in 2020. We will only sell shares after a minimum of thirty days after an email marketing campaign. In the past, AG has compensated us (and/or our affiliated company Gold Standard Media) a total of sixty five thousand dollars (in twenty eighteen) and twenty five thousand dollars (in twenty seventeen) for prior, now concluded, marketing campaigns. We also currently own an additional seventy five thousand Options of AG with a conversion price of ten canadian dollars and eighty four cents (twenty five thousand), nine canadian dollars and one cent (twenty five thousand), eight canadian dollars and thirty one cents ( twenty five thousand), which we received from AG in connection with our prior work. Our stock profiles are intended to highlight certain companies for YOUR further investigation; they are NOT recommendations. The securities issued by the companies we profile should be considered high risk and, if you do invest, you may lose your entire investment. Please do your own research before investing, including reading the companies’ SEC filings, press releases, and risk disclosures. Information contained in this profile was provided by the company, extracted from SEC filings, company websites, and other publicly available sources. We believe the sources and information are accurate and reliable but we cannot guarantee it.
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