TheStreet upgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) from a d+ rating to a c- rating in a research report released on Thursday morning, TheStreetRatingsTable reports.
Other research analysts have also issued reports about the stock. BMO Capital Markets reaffirmed a hold rating on shares of First Majestic Silver in a research note on Tuesday, April 2nd. Zacks Investment Research lowered shares of ExlService from a hold rating to a sell rating in a research report on Wednesday, July 10th. HC Wainwright set a $11.00 price target on shares of Cerecor and gave the company a buy rating in a research report on Wednesday, April 17th. Finally, ValuEngine lowered shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $7.69.
First Majestic Silver stock opened at $9.90 on Thursday. First Majestic Silver has a 1-year low of $4.59 and a 1-year high of $10.24. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -47.14 and a beta of 0.10. The firm has a fifty day simple moving average of $7.37. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.24 and a quick ratio of 2.78.
First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, May 9th. The mining company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). First Majestic Silver had a negative net margin of 59.46% and a negative return on equity of 4.63%. The firm had revenue of $86.80 million for the quarter, compared to analyst estimates of $124.73 million. During the same period last year, the firm earned ($0.03) earnings per share. The business’s quarterly revenue was up 48.1% compared to the same quarter last year. As a group, sell-side analysts forecast that First Majestic Silver will post 0.04 earnings per share for the current fiscal year.
In other news, major shareholder Vinita Lee Piper purchased 22,055 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average cost of $5.93 per share, with a total value of $130,786.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.85% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in AG. Nordea Investment Management AB bought a new stake in First Majestic Silver in the first quarter worth about $27,000. IHT Wealth Management LLC bought a new stake in First Majestic Silver in the fourth quarter worth about $70,000. QCM Cayman Ltd. bought a new stake in First Majestic Silver in the first quarter worth about $168,000. Teza Capital Management LLC bought a new stake in First Majestic Silver in the first quarter worth about $192,000. Finally, Commonwealth Equity Services LLC raised its position in First Majestic Silver by 12.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 45,059 shares of the mining company’s stock worth $265,000 after acquiring an additional 5,038 shares during the period. 25.78% of the stock is currently 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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