First Majestic Silver (NYSE:AG – Get Free Report) (TSE:FR) had its price target decreased by analysts at HC Wainwright from $27.00 to $25.50 in a research note issued on Friday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the mining company’s stock. HC Wainwright’s target price points to a potential upside of 50.18% from the company’s current price.
AG has been the subject of a number of other research reports. Scotiabank decreased their target price on First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Weiss Ratings restated a “hold (c)” rating on shares of First Majestic Silver in a research note on Wednesday, September 2nd. ATB Cormark Capital Markets raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, July 10th. Finally, Wall Street Zen cut First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.00.
Check Out Our Latest Analysis on AG
First Majestic Silver Price Performance
First Majestic Silver (NYSE:AG – Get Free Report) (TSE:FR) last announced its quarterly earnings results on Thursday, July 30th. The mining company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $415.50 million during the quarter, compared to the consensus estimate of $496.00 million. First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The company’s quarterly revenue was up 57.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 EPS. Analysts forecast that First Majestic Silver will post 0.81 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership boosted its stake in First Majestic Silver by 408.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company’s stock worth $250,821,000 after acquiring an additional 12,081,688 shares during the last quarter. Alps Advisors Inc. lifted its stake in First Majestic Silver by 33.6% in the 4th quarter. Alps Advisors Inc. now owns 9,621,720 shares of the mining company’s stock valued at $160,298,000 after acquiring an additional 2,418,513 shares in the last quarter. Bank of America Corp DE lifted its stake in First Majestic Silver by 92.3% in the 1st quarter. Bank of America Corp DE now owns 6,082,824 shares of the mining company’s stock valued at $130,659,000 after acquiring an additional 2,919,008 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in First Majestic Silver during the 2nd quarter worth approximately $59,610,000. Finally, Renaissance Technologies LLC bought a new position in shares of First Majestic Silver during the 1st quarter worth approximately $62,760,000. Institutional investors own 27.16% of the company’s stock.
First Majestic Silver Company Profile
First Majestic Silver Corp. is a mining company focused on the exploration, development and production of silver, gold and related metals. The company also produces and sells investment-grade silver bullion through its own minting and retail operations.
Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically operated a portfolio of silver-producing mines in Mexico, including San Dimas in Durango, Santa Elena in Sonora and La Encantada in Coahuila.
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