Buying opportunities in Canadian miners prompt Raymond James upgrades

|By:, SA News Editor

Raymond James upgrades several Canadian mining companies following the latest round of earnings and production updates, recommending investors take advantage of near-term valuation pullbacks.

The firm upgrades First Majestic Silver (NYSE:AG) to Market Perform; Endeavour Silver (NYSE:EXK) and Silvercorp Metals (OTCPK:SVMLF) to Outperform; and Tahoe Resources (NYSE:TAHO), Asanko Gold (NYSEMKT:AKG), Fortuna Silver Mines (NYSE:FSM) and MAG Silver (NYSEMKT:MAG) to Strong Buy.

The firm believes previously elevated multiples have adjusted to lower levels, signaling buying opportunities among the group.