TD Securities upgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Marketbeat.com reports.
Other analysts have also issued reports about the company. HC Wainwright reiterated a buy rating and set a $14.00 price target on shares of First Majestic Silver in a report on Tuesday, January 16th. Zacks Investment Research lowered First Majestic Silver from a hold rating to a sell rating in a report on Friday, January 19th. National Bank Financial lowered First Majestic Silver from an outperform rating to a sector perform rating in a report on Friday, January 26th. ValuEngine lowered First Majestic Silver from a hold rating to a sell rating in a report on Friday, February 2nd. Finally, TheStreet lowered First Majestic Silver from a c- rating to a d rating in a report on Friday, March 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $9.63.
Shares of First Majestic Silver opened at $7.14 on Tuesday, Marketbeat.com reports. The company has a market cap of $1.19 billion, a P/E ratio of -178.50 and a beta of 0.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 4.15 and a current ratio of 4.41. First Majestic Silver has a 12-month low of $7.07 and a 12-month high of $7.31.
First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Wednesday, May 9th. The mining company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.04). The company had revenue of $58.59 million for the quarter, compared to analysts’ expectations of $63.79 million. First Majestic Silver had a negative net margin of 25.47% and a negative return on equity of 3.27%. research analysts predict that First Majestic Silver will post 0.04 earnings per share for the current fiscal year.
First Majestic Silver announced that its Board of Directors has initiated a stock buyback plan on Monday, March 19th that permits the company to repurchase 8,290,000 outstanding shares. This repurchase authorization permits the mining company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
Institutional investors and hedge funds have recently modified their holdings of the business. Sei Investments Co. raised its stake in shares of First Majestic Silver by 99.7% in the first quarter. Sei Investments Co. now owns 17,379 shares of the mining company’s stock valued at $106,000 after buying an additional 8,675 shares during the period. Seven Eight Capital LP bought a new stake in shares of First Majestic Silver in the first quarter valued at $137,000. BlackRock Inc. raised its stake in shares of First Majestic Silver by 170.5% in the first quarter. BlackRock Inc. now owns 33,792 shares of the mining company’s stock valued at $206,000 after buying an additional 21,301 shares during the period. Two Sigma Securities LLC bought a new stake in shares of First Majestic Silver in the fourth quarter valued at $215,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of First Majestic Silver by 170.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,852 shares of the mining company’s stock valued at $215,000 after buying an additional 20,064 shares during the period. Hedge funds and other institutional investors own 28.95% of the company’s stock.
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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