First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has earned an average recommendation of “Buy” from the nine brokerages that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $9.23.
Several research firms recently commented on AG. TheStreet raised First Majestic Silver from a “d+” rating to a “c-” rating in a research note on Thursday, July 18th. Zacks Investment Research downgraded First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. B. Riley increased their price objective on First Majestic Silver from $5.95 to $8.20 and gave the company a “neutral” rating in a research note on Monday, September 9th. ValuEngine raised First Majestic Silver from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 17th. Finally, HC Wainwright increased their price objective on First Majestic Silver from $8.00 to $11.50 and gave the company a “buy” rating in a research note on Monday, August 19th.
Shares of AG stock traded down $0.47 during trading hours on Friday, hitting $9.31. 5,953,100 shares of the company’s stock were exchanged, compared to its average volume of 4,834,291. The company has a quick ratio of 2.66, a current ratio of 3.13 and a debt-to-equity ratio of 0.24. The firm has a market cap of $2.02 billion, a P/E ratio of -44.33 and a beta of 0.08. The firm has a 50 day moving average of $10.33 and a two-hundred day moving average of $7.66. First Majestic Silver has a fifty-two week low of $4.59 and a fifty-two week high of $11.62.
First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Wednesday, August 7th. The mining company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.01). The business had revenue of $83.67 million for the quarter, compared to analyst estimates of $87.77 million. First Majestic Silver had a negative return on equity of 3.57% and a negative net margin of 50.33%. During the same period in the previous year, the company earned ($0.07) earnings per share. On average, equities analysts forecast that First Majestic Silver will post 0.06 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB acquired a new position in First Majestic Silver in the 1st quarter valued at $27,000. Resources Investment Advisors LLC. grew its holdings in First Majestic Silver by 281.3% in the 2nd quarter. Resources Investment Advisors LLC. now owns 6,100 shares of the mining company’s stock valued at $48,000 after buying an additional 4,500 shares in the last quarter. CoreCommodity Management LLC purchased a new stake in First Majestic Silver in the 2nd quarter valued at $96,000. Paloma Partners Management Co purchased a new stake in First Majestic Silver in the 2nd quarter valued at $96,000. Finally, FNY Investment Advisers LLC purchased a new stake in First Majestic Silver in the 2nd quarter valued at $102,000. 27.22% of the stock is 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.
Read More: How to interpret the current ratio
Receive News & Ratings for First Majestic Silver Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Majestic Silver and related companies with MarketBeat.com's FREE daily email newsletter.