First Majestic Silver (NYSE:AG) Upgraded at TheStreet

TheStreet upgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) from a d+ rating to a c- rating in a research report released on Thursday, July 18th, TheStreetRatingsTable reports.

Several other equities research analysts have also recently weighed in on the company. HC Wainwright set a $8.00 price objective on First Majestic Silver and gave the stock a buy rating in a report on Wednesday, April 17th. BMO Capital Markets reiterated a hold rating on shares of First Majestic Silver in a report on Tuesday, April 2nd. Zacks Investment Research upgraded First Majestic Silver from a hold rating to a buy rating and set a $8.75 price objective for the company in a report on Wednesday, July 10th. Finally, ValuEngine upgraded First Majestic Silver from a buy rating to a strong-buy rating in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. First Majestic Silver presently has a consensus rating of Buy and a consensus target price of $7.69.

Shares of First Majestic Silver stock traded down $0.10 during trading on Thursday, hitting $10.71. 6,141,346 shares of the stock traded hands, compared to its average volume of 6,817,436. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.78 and a current ratio of 3.13. The company has a market capitalization of $2.19 billion, a PE ratio of -51.00 and a beta of 0.11. The business has a fifty day simple moving average of $8.83. First Majestic Silver has a 52 week low of $4.59 and a 52 week high of $10.97.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Wednesday, August 7th. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). First Majestic Silver had a negative return on equity of 3.57% and a negative net margin of 50.33%. The company had revenue of $83.67 million for the quarter, compared to the consensus estimate of $87.77 million. During the same quarter in the previous year, the business earned ($0.07) earnings per share.

In other First Majestic Silver news, major shareholder Vinita Lee Piper bought 22,055 shares of First Majestic Silver stock in a transaction on Tuesday, May 14th. The stock was acquired at an average price of $5.93 per share, with a total value of $130,786.15. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.85% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in First Majestic Silver during the fourth quarter valued at $2,346,000. Deutsche Bank AG lifted its position in First Majestic Silver by 3,672.1% during the fourth quarter. Deutsche Bank AG now owns 980,638 shares of the mining company’s stock valued at $5,775,000 after purchasing an additional 954,641 shares in the last quarter. Toronto Dominion Bank lifted its position in First Majestic Silver by 64.8% during the first quarter. Toronto Dominion Bank now owns 146,122 shares of the mining company’s stock valued at $963,000 after purchasing an additional 57,451 shares in the last quarter. Sigma Planning Corp lifted its position in First Majestic Silver by 371.8% during the first quarter. Sigma Planning Corp now owns 164,460 shares of the mining company’s stock valued at $1,082,000 after purchasing an additional 129,605 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in First Majestic Silver during the first quarter valued at $2,621,000. 26.06% of the stock is owned by 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 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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