Shares of First Majestic Silver (NYSE:AG) (TSE:FR) have earned an average rating of “Hold” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $9.92.
Several equities analysts recently issued reports on AG shares. TD Securities upgraded First Majestic Silver from a “hold” rating to a “buy” rating in a research note on Tuesday, May 15th. Roth Capital initiated coverage on First Majestic Silver in a research report on Wednesday, April 25th. They issued a “buy” rating and a $9.00 target price on the stock. HC Wainwright set a $12.00 target price on First Majestic Silver and gave the stock a “buy” rating in a research report on Wednesday, March 14th. TheStreet lowered First Majestic Silver from a “c-” rating to a “d” rating in a research report on Friday, March 23rd. Finally, Zacks Investment Research raised First Majestic Silver from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 20th.
First Majestic Silver traded down $0.05, hitting $7.09, during trading hours on Friday, according to MarketBeat Ratings. 2,355,109 shares of the stock were exchanged, compared to its average volume of 2,566,280. First Majestic Silver has a 12 month low of $4.93 and a 12 month high of $9.24. The stock has a market capitalization of $1.18 billion, a PE ratio of -177.25 and a beta of 0.24. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.41 and a quick ratio of 4.15.
First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Wednesday, May 9th. The mining company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.04). First Majestic Silver had a negative return on equity of 3.27% and a negative net margin of 25.47%. The firm had revenue of $58.59 million for the quarter, compared to the consensus estimate of $63.79 million. research analysts anticipate that First Majestic Silver will post 0.04 earnings per share for the current fiscal year.
First Majestic Silver announced that its Board of Directors has authorized a stock buyback program on Monday, March 19th that authorizes the company to repurchase 8,290,000 outstanding shares. This repurchase authorization authorizes the mining company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently modified their holdings of AG. Sei Investments Co. increased its holdings in shares of First Majestic Silver by 99.7% during the first quarter. Sei Investments Co. now owns 17,379 shares of the mining company’s stock valued at $106,000 after purchasing an additional 8,675 shares during the period. Seven Eight Capital LP acquired a new position in shares of First Majestic Silver during the first quarter valued at $137,000. BlackRock Inc. increased its holdings in shares of First Majestic Silver by 170.5% during the first quarter. BlackRock Inc. now owns 33,792 shares of the mining company’s stock valued at $206,000 after purchasing an additional 21,301 shares during the period. Two Sigma Securities LLC acquired a new position in shares of First Majestic Silver during the fourth quarter valued at $215,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of First Majestic Silver by 170.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 31,852 shares of the mining company’s stock valued at $215,000 after purchasing an additional 20,064 shares during the period. 28.95% of the stock is currently owned by hedge funds and other institutional investors.
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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