First Majestic Silver Corp. (AG) Given Consensus Rating of “Hold” by Brokerages

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has been given an average rating of “Hold” by the eleven research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $10.50.

AG has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of First Majestic Silver from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research note on Friday, October 20th. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of First Majestic Silver in a research note on Friday, November 3rd. Scotiabank reduced their price target on shares of First Majestic Silver from $11.50 to $9.75 and set a “sector perform” rating on the stock in a research note on Friday, November 3rd. ValuEngine downgraded shares of First Majestic Silver from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. Finally, BMO Capital Markets initiated coverage on shares of First Majestic Silver in a research note on Friday, November 17th. They issued a “market perform” rating on the stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. increased its stake in First Majestic Silver by 1.6% during the 2nd quarter. Advisor Group Inc. now owns 43,521 shares of the mining company’s stock worth $102,000 after buying an additional 695 shares during the period. Legal & General Group Plc increased its stake in First Majestic Silver by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 28,252 shares of the mining company’s stock worth $234,000 after buying an additional 1,089 shares during the period. Aperio Group LLC increased its stake in First Majestic Silver by 1.9% during the 2nd quarter. Aperio Group LLC now owns 99,218 shares of the mining company’s stock worth $825,000 after buying an additional 1,873 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in First Majestic Silver by 18.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,536 shares of the mining company’s stock worth $129,000 after buying an additional 2,408 shares during the period. Finally, National Planning Corp increased its stake in First Majestic Silver by 5.4% during the 2nd quarter. National Planning Corp now owns 46,914 shares of the mining company’s stock worth $360,000 after buying an additional 2,409 shares during the period. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

First Majestic Silver (NYSE:AG) traded down $0.16 during trading on Friday, hitting $6.72. 1,250,000 shares of the stock were exchanged, compared to its average volume of 2,380,800. First Majestic Silver has a twelve month low of $5.92 and a twelve month high of $10.92. The company has a current ratio of 3.77, a quick ratio of 3.38 and a debt-to-equity ratio of 0.04.

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First Majestic Silver Company Profile

First Majestic Silver Corp. is a mining company. The Company is focused on silver production in Mexico and it is pursuing the development of its existing mineral property assets. The Company operates through eight segments, six of which are located in Mexico; one retail market segment in Canada, and one metal trading segment in Europe.

Analyst Recommendations for First Majestic Silver (NYSE:AG)

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