First Majestic Silver (NYSE:AG) Stock Price Down 10.3% – Time to Sell?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) traded down 10.3% during trading on Thursday . The company traded as low as $20.36 and last traded at $20.1170. 8,055,602 shares changed hands during trading, a decline of 73% from the average session volume of 29,610,988 shares. The stock had previously closed at $22.43.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AG. Scotiabank lifted their price target on shares of First Majestic Silver from $12.50 to $23.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. BMO Capital Markets reiterated a “market perform” rating on shares of First Majestic Silver in a report on Friday, January 16th. Wall Street Zen lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 6th. Finally, TD Securities raised First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.17.

First Majestic Silver Stock Down 7.6%

The firm’s 50-day simple moving average is $18.64 and its 200-day simple moving average is $13.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.38. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 148.31 and a beta of 0.85.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Wednesday, November 5th. The mining company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.04). First Majestic Silver had a net margin of 7.07% and a return on equity of 3.14%. The company had revenue of $285.10 million during the quarter, compared to the consensus estimate of $429.78 million. During the same quarter in the previous year, the business posted ($0.09) EPS. The firm’s quarterly revenue was up 95.3% on a year-over-year basis. Sell-side analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

Institutional Trading of First Majestic Silver

Institutional investors have recently modified their holdings of the company. Lodestone Wealth Management LLC acquired a new position in shares of First Majestic Silver in the fourth quarter valued at $25,000. Bogart Wealth LLC bought a new stake in First Majestic Silver in the 3rd quarter valued at $28,000. Spire Wealth Management bought a new stake in First Majestic Silver in the 4th quarter valued at $35,000. Sound Income Strategies LLC raised its stake in shares of First Majestic Silver by 29,900.0% in the 3rd quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock valued at $37,000 after buying an additional 2,990 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of First Majestic Silver by 57.2% during the 2nd quarter. CWM LLC now owns 5,114 shares of the mining company’s stock worth $42,000 after acquiring an additional 1,860 shares during the period. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Company Profile

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.