First Majestic Silver (NYSE:AG – Get Free Report) (TSE:FR) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday, Zacks reports.
A number of other research analysts also recently commented on AG. Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Majestic Silver in a report on Wednesday, September 2nd. Scotiabank dropped their price target 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. Wall Street Zen cut First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. ATB Cormark Capital Markets raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 10th. Finally, HC Wainwright decreased their price objective on First Majestic Silver from $27.00 to $25.50 and set a “buy” rating on the stock in a research report on Friday, October 9th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, First Majestic Silver presently has an average rating of “Hold” and an average target price of $24.00.
Read Our Latest Research Report on First Majestic Silver
First Majestic Silver Stock Performance
Shares of NYSE:AG opened at $15.97 on Monday. First Majestic Silver has a 52 week low of $10.19 and a 52 week high of $32.03. The stock has a market capitalization of $7.88 billion, a P/E ratio of 17.95 and a beta of 0.97. The firm has a fifty day simple moving average of $19.00 and a two-hundred day simple moving average of $18.86. The company has a quick ratio of 2.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.08.
First Majestic Silver (NYSE:AG – Get Free Report) (TSE:FR) last posted its earnings results on Thursday, July 30th. The mining company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%. The business had revenue of $415.50 million during the quarter, compared to the consensus estimate of $496.00 million. During the same quarter last year, the firm earned $0.11 earnings per share. The business’s quarterly revenue was up 57.3% on a year-over-year basis. On average, analysts expect that First Majestic Silver will post 0.80 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Harbor Investment Advisory LLC bought a new position in First Majestic Silver during the first quarter valued at $32,000. PNC Financial Services Group Inc. raised its stake in shares of First Majestic Silver by 184.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock valued at $32,000 after acquiring an additional 978 shares during the period. Fortitude Family Office LLC purchased a new stake in shares of First Majestic Silver in the third quarter valued at $39,000. Parallel Advisors LLC lifted its holdings in shares of First Majestic Silver by 36.4% in the 1st quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock worth $45,000 after acquiring an additional 560 shares during the last quarter. Finally, Bard Associates Inc. bought a new stake in shares of First Majestic Silver in the 2nd quarter worth about $53,000. 27.16% of the stock is owned by hedge funds and other institutional investors.
First Majestic Silver Company Profile
First Majestic Silver Corp. is a mining company focused on the exploration, development, and production of silver and gold. The company operates producing mines in Mexico and the United States and sells silver bullion and related products through its in-house First Mint division.
First Majestic’s Mexican operations include the San Dimas Silver/Gold Mine in Durango, the Santa Elena Silver/Gold Mine in Sonora, and the La Encantada Silver Mine in Coahuila. The company also owns the Jerritt Canyon Gold Mine in Nevada, although operations there have been suspended while First Majestic evaluates its future.
Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically concentrated its growth strategy on acquiring and developing precious-metals assets in the Americas.
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