First Majestic Silver (NYSE:AG) (TSE:FR) had its target price raised by stock analysts at HC Wainwright from $8.00 to $11.50 in a report issued on Monday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the mining company’s stock. HC Wainwright’s target price suggests a potential upside of 9.52% from the stock’s current price.
A number of other brokerages also recently weighed in on AG. B. Riley set a $6.00 price target on shares of First Majestic Silver and gave the stock a “hold” rating in a report on Wednesday, August 7th. TheStreet raised shares of First Majestic Silver from a “d+” rating to a “c-” rating in a report on Thursday, July 18th. ValuEngine raised shares of First Majestic Silver from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 17th. Finally, Zacks Investment Research downgraded shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $8.56.
Shares of First Majestic Silver stock opened at $10.50 on Monday. The company has a 50 day moving average of $9.42 and a 200-day moving average of $7.15. First Majestic Silver has a 1-year low of $4.59 and a 1-year high of $11.11. The company has a current ratio of 3.13, a quick ratio of 2.66 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.08 billion, a PE ratio of -50.00 and a beta of 0.11.
First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings results on Wednesday, August 7th. The mining company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). First Majestic Silver had a negative return on equity of 3.57% and a negative net margin of 50.33%. The firm had revenue of $83.67 million for the quarter, compared to the consensus estimate of $87.77 million. During the same period last year, the company posted ($0.07) EPS.
A number of large investors have recently modified their holdings of AG. Nordea Investment Management AB bought a new position in First Majestic Silver in the 1st quarter valued at approximately $27,000. Resources Investment Advisors LLC. lifted its stake in First Majestic Silver by 281.3% in the 2nd quarter. Resources Investment Advisors LLC. now owns 6,100 shares of the mining company’s stock valued at $48,000 after purchasing an additional 4,500 shares during the last quarter. CoreCommodity Management LLC bought a new position in First Majestic Silver in the 2nd quarter valued at approximately $96,000. Paloma Partners Management Co bought a new position in First Majestic Silver in the 2nd quarter valued at approximately $96,000. Finally, FNY Investment Advisers LLC bought a new position in First Majestic Silver in the 2nd quarter valued at approximately $102,000. 25.75% of the stock is owned by institutional investors and hedge funds.
About First Majestic Silver
First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.
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