First Majestic Silver (NYSE:AG) (TSE:FR) had its price target increased by HC Wainwright from $8.00 to $11.50 in a report issued on Monday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the mining company’s stock.
Several other brokerages have also recently weighed in on AG. B. Riley set a $6.00 price target on First Majestic Silver and gave the stock a hold rating in a research note on Wednesday, August 7th. TheStreet raised First Majestic Silver from a d+ rating to a c- rating in a research note on Thursday, July 18th. ValuEngine raised First Majestic Silver from a buy rating to a strong-buy rating in a report on Wednesday, July 17th. Finally, Zacks Investment Research downgraded First Majestic Silver from a buy rating to a hold rating in a report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average target price of $8.56.
Shares of AG stock opened at $10.31 on Monday. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -49.10 and a beta of 0.11. The business’s fifty day moving average is $9.52 and its 200 day moving average is $7.20. First Majestic Silver has a twelve month low of $4.59 and a twelve month high of $11.11. The company has a quick ratio of 2.66, a current ratio of 3.13 and a debt-to-equity ratio of 0.24.
First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly 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 firm had revenue of $83.67 million during the quarter, compared to analysts’ expectations 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. Equities research analysts expect that First Majestic Silver will post 0.02 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley boosted its holdings in First Majestic Silver by 3.8% in the second quarter. Morgan Stanley now owns 5,280,691 shares of the mining company’s stock worth $41,770,000 after acquiring an additional 191,881 shares in the last quarter. Vanguard Group Inc. boosted its holdings in First Majestic Silver by 3.6% in the second quarter. Vanguard Group Inc. now owns 4,299,575 shares of the mining company’s stock worth $34,010,000 after acquiring an additional 149,507 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in First Majestic Silver by 24.4% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,824,842 shares of the mining company’s stock worth $22,345,000 after acquiring an additional 554,438 shares in the last quarter. Alps Advisors Inc. boosted its holdings in First Majestic Silver by 6.9% in the second quarter. Alps Advisors Inc. now owns 985,028 shares of the mining company’s stock worth $7,792,000 after acquiring an additional 63,895 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in First Majestic Silver by 3,672.1% in the fourth quarter. Deutsche Bank AG now owns 980,638 shares of the mining company’s stock worth $5,775,000 after acquiring an additional 954,641 shares in the last quarter. 25.75% 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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