First Majestic Silver Corp. (AG): Valuation Up in the Clouds, but No Silver Lining
- First Majestic trades at a uniquely ludicrous
multiple of the value of the precious metals it owns, with 70-80% downside
- Sell-side estimates, comparisons to peers, and
even First Majestic’s own internal models confirm that the company is massively
overvalued
- First Majestic and an affiliated company have
recently hired stock promoters to hype their prospects to an audience of retail
investors
- First Majestic’s founder and CEO is a former professional
stock promoter, with ties to a defunct Panamanian brokerage firm implicated in
pump-and-dump scams and insider trading
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