First Majestic Silver (FR) Hits New 52-Week Low at $7.44

First Majestic Silver Corp. (TSE:FR) (NYSE:AG) hit a new 52-week low on Tuesday . The company traded as low as C$7.44 and last traded at C$7.46, with a volume of 906930 shares trading hands. The stock had previously closed at C$7.80.

A number of brokerages have recently weighed in on FR. BMO Capital Markets lowered shares of First Majestic Silver from a “market perform” rating to an “underperform” rating and cut their target price for the company from C$9.00 to C$7.50 in a research note on Friday, December 22nd. HC Wainwright reaffirmed a “buy” rating on shares of First Majestic Silver in a research note on Wednesday, October 18th. Finally, National Bank Financial cut their target price on shares of First Majestic Silver from C$11.00 to C$10.50 and set an “outperform” rating on the stock in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of C$9.90.

The firm has a market cap of $1,290.00, a P/E ratio of 260.00 and a beta of -0.21.

In related news, Director Robert A. Mccallum sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of C$8.64, for a total transaction of C$43,200.00. Also, Director David Andrew Shaw sold 10,000 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of C$8.46, for a total transaction of C$84,600.00.

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About First Majestic Silver

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.

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