First Majestic Silver (NYSE:AG) (TSE:FR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, Zacks.com reports. The firm presently has a $11.00 price objective on the mining company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.24% from the stock’s current price.
According to Zacks, “First Majestic Silver Corp. is engaged in the production, development, exploration, and acquisition of silver mines in Mexico. First Majestic Silver Corp. is headquartered in Vancouver, Canada. “
A number of other brokerages have also issued reports on AG. TheStreet raised First Majestic Silver from a “d+” rating to a “c-” rating in a research report on Thursday, July 18th. B. Riley upped their price target on First Majestic Silver from $5.95 to $8.20 and gave the company a “neutral” rating in a research report on Monday, September 9th. ValuEngine lowered First Majestic Silver from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 30th. Finally, HC Wainwright reissued a “buy” rating and set a $11.50 price target on shares of First Majestic Silver in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. First Majestic Silver has a consensus rating of “Buy” and an average target price of $10.23.
Shares of First Majestic Silver stock traded up $0.11 on Friday, reaching $9.80. 3,819,640 shares of the company were exchanged, compared to its average volume of 3,964,208. The stock has a fifty day moving average price of $9.99 and a 200-day moving average price of $8.61. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -46.67 and a beta of 0.08. The company has a current ratio of 3.13, a quick ratio of 2.66 and a debt-to-equity ratio of 0.24. 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 Thursday, November 7th. The mining company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The company had revenue of $97.00 million for the quarter, compared to analyst estimates of $134.54 million. First Majestic Silver had a negative return on equity of 3.57% and a negative net margin of 50.33%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the firm earned ($0.03) earnings per share. On average, equities analysts anticipate that First Majestic Silver will post 0.14 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Resources Investment Advisors LLC. raised its position in First Majestic Silver by 281.3% during the second 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in First Majestic Silver by 17.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,302 shares of the mining company’s stock valued at $103,000 after buying an additional 1,646 shares during the period. ARP Americas LP acquired a new position in First Majestic Silver during the third quarter valued at $109,000. Paloma Partners Management Co acquired a new position in First Majestic Silver during the second quarter valued at $96,000. Finally, CoreCommodity Management LLC purchased a new position in First Majestic Silver in the second quarter valued at about $96,000. 27.39% of the stock is currently owned by hedge funds and other institutional investors.
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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