First Majestic Silver (NYSE:AG) (TSE:FR) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.
Several other equities analysts also recently issued reports on AG. Zacks Investment Research raised shares of First Majestic Silver from a “strong sell” rating to a “hold” rating in a report on Friday, October 26th. HC Wainwright set a $9.00 price target on shares of First Majestic Silver and gave the company a “buy” rating in a report on Tuesday, August 14th. National Bank Financial reaffirmed a “sector perform market weight” rating on shares of First Majestic Silver in a report on Monday, August 13th. Roth Capital set a $8.00 price objective on shares of First Majestic Silver and gave the stock a “buy” rating in a report on Tuesday, October 16th. Finally, TD Securities reaffirmed a “buy” rating on shares of First Majestic Silver in a report on Thursday, November 8th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $8.75.
Shares of AG opened at $4.91 on Wednesday. First Majestic Silver has a 1 year low of $4.59 and a 1 year high of $8.48. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.85 and a current ratio of 3.38.
First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Wednesday, November 7th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. First Majestic Silver had a negative net margin of 33.27% and a negative return on equity of 5.13%. The company had revenue of $88.50 million during the quarter, compared to the consensus estimate of $126.56 million. The company’s revenue for the quarter was up 43.0% on a year-over-year basis. As a group, sell-side analysts expect that First Majestic Silver will post -0.16 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of AG. BlackRock Inc. lifted its holdings in First Majestic Silver by 170.5% in the first quarter. BlackRock Inc. now owns 33,792 shares of the mining company’s stock worth $206,000 after purchasing an additional 21,301 shares during the period. Aperio Group LLC lifted its holdings in First Majestic Silver by 12.8% in the second quarter. Aperio Group LLC now owns 121,081 shares of the mining company’s stock worth $924,000 after purchasing an additional 13,705 shares during the period. Alps Advisors Inc. lifted its holdings in First Majestic Silver by 8.3% in the second quarter. Alps Advisors Inc. now owns 1,054,560 shares of the mining company’s stock worth $7,108,000 after purchasing an additional 80,767 shares during the period. Kovack Advisors Inc. acquired a new stake in First Majestic Silver in the second quarter worth about $101,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in First Majestic Silver by 5.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,326,757 shares of the mining company’s stock worth $10,116,000 after purchasing an additional 62,901 shares during the period. 25.71% 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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