Silver has crashed about 50% from its January record, yet First Majestic Silver (AG) posted record revenue, record cash and a bigger dividend. A five-star analyst thinks the stock is worth far more, and his case never mentions the silver price. The gap comes down to timing: miners sell into the quarter’s average price, decoupling their results from spot metal prices. The AG stock shows 80% upside potential according to the analyst, despite the sharp decline in silver prices.
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