First Majestic Silver (NYSE:AG) Trading 6.1% Higher – Still a Buy?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shares traded up 6.1% on Thursday . The company traded as high as $5.79 and last traded at $5.70. 5,855,152 shares traded hands during trading, a decline of 67% from the average session volume of 17,622,150 shares. The stock had previously closed at $5.37.

Analysts Set New Price Targets

AG has been the topic of a number of research analyst reports. HC Wainwright reissued a “buy” rating and issued a $11.00 target price on shares of First Majestic Silver in a research report on Friday, January 10th. Scotiabank dropped their price objective on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 15th.

First Majestic Silver Stock Performance

The company has a quick ratio of 2.45, a current ratio of 3.03 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.79 billion, a PE ratio of -21.28 and a beta of 1.24. The firm has a fifty day simple moving average of $5.68 and a 200-day simple moving average of $6.01.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Thursday, February 20th. The mining company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. On average, research analysts forecast that First Majestic Silver Corp. will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On First Majestic Silver

A number of large investors have recently modified their holdings of the business. Creative Planning acquired a new position in First Majestic Silver during the third quarter worth $72,000. Blue Trust Inc. boosted its position in shares of First Majestic Silver by 77.3% during the 3rd quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock worth $31,000 after purchasing an additional 2,253 shares in the last quarter. Raymond James & Associates grew its stake in shares of First Majestic Silver by 17.7% during the 3rd quarter. Raymond James & Associates now owns 558,096 shares of the mining company’s stock worth $3,349,000 after purchasing an additional 83,867 shares during the period. Corundum Trust Company INC purchased a new position in shares of First Majestic Silver in the 3rd quarter valued at about $72,000. Finally, International Assets Investment Management LLC lifted its stake in shares of First Majestic Silver by 136.4% in the third quarter. International Assets Investment Management LLC now owns 33,090 shares of the mining company’s stock valued at $1,990,000 after purchasing an additional 19,095 shares during the period. 27.16% 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 and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.