Brokerages Set First Majestic Silver Corp. (NYSE:AG) Target Price at $6.75

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) have received a consensus recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $6.75.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Monday, July 27th. HC Wainwright upped their target price on shares of First Majestic Silver from $10.50 to $11.50 and gave the stock a “buy” rating in a research report on Thursday, July 16th. B. Riley lowered their target price on shares of First Majestic Silver from $7.80 to $6.75 and set a “neutral” rating on the stock in a research report on Friday, May 15th. TD Securities lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Friday, July 24th. Finally, UBS Group assumed coverage on shares of First Majestic Silver in a research report on Wednesday, May 13th. They set a $2.00 target price on the stock.

Shares of First Majestic Silver stock opened at $13.33 on Tuesday. First Majestic Silver has a 52-week low of $4.17 and a 52-week high of $14.50. The company has a quick ratio of 2.26, a current ratio of 2.66 and a debt-to-equity ratio of 0.25. The company’s 50-day simple moving average is $10.43 and its 200-day simple moving average is $8.97. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 166.63 and a beta of 1.06.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings results on Thursday, May 14th. The mining company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. First Majestic Silver had a negative net margin of 20.87% and a positive return on equity of 2.57%. The business had revenue of $86.07 million for the quarter, compared to analyst estimates of $95.45 million. Equities research analysts anticipate that First Majestic Silver will post 0.11 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in AG. Raymond James & Associates grew its position in shares of First Majestic Silver by 78.9% in the fourth quarter. Raymond James & Associates now owns 56,320 shares of the mining company’s stock valued at $690,000 after purchasing an additional 24,830 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of First Majestic Silver by 4.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 219,395 shares of the mining company’s stock valued at $2,690,000 after purchasing an additional 8,689 shares during the last quarter. Bank of America Corp DE grew its position in shares of First Majestic Silver by 121.5% in the fourth quarter. Bank of America Corp DE now owns 77,893 shares of the mining company’s stock valued at $955,000 after purchasing an additional 42,724 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of First Majestic Silver in the fourth quarter valued at approximately $318,000. Finally, Man Group plc grew its position in shares of First Majestic Silver by 20.8% in the fourth quarter. Man Group plc now owns 19,169 shares of the mining company’s stock valued at $235,000 after purchasing an additional 3,300 shares during the last quarter. Institutional investors and hedge funds own 27.80% of the company’s stock.

First Majestic Silver Company Profile

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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