First Majestic Silver (NYSE:AG) Stock Rating Upgraded by Wall Street Zen

First Majestic Silver (NYSE:AG) (TSE:FR) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Several other research analysts have also weighed in on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. Zacks Research downgraded First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. HC Wainwright boosted their target price on shares of First Majestic Silver to $30.00 and gave the stock a “buy” rating in a report on Friday, February 20th. BMO Capital Markets raised shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 24th. Finally, Scotiabank lifted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, First Majestic Silver currently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

First Majestic Silver Trading Down 0.1%

First Majestic Silver stock opened at $21.83 on Friday. The company has a market cap of $10.76 billion, a price-to-earnings ratio of 62.37 and a beta of 0.97. The firm has a 50-day moving average of $23.83 and a 200-day moving average of $18.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.38 and a quick ratio of 2.96. First Majestic Silver has a one year low of $5.18 and a one year high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. First Majestic Silver had a return on equity of 7.41% and a net margin of 13.12%.The business had revenue of $463.92 million for the quarter, compared to the consensus estimate of $561.30 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. First Majestic Silver’s quarterly revenue was up 169.2% on a year-over-year basis. On average, equities analysts expect that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its stake in First Majestic Silver by 77.4% in the 1st quarter. Royal Bank of Canada now owns 604,186 shares of the mining company’s stock valued at $4,042,000 after purchasing an additional 263,688 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of First Majestic Silver by 355.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,193,589 shares of the mining company’s stock worth $7,985,000 after buying an additional 931,690 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of First Majestic Silver by 12.4% in the 2nd quarter. Geode Capital Management LLC now owns 240,083 shares of the mining company’s stock valued at $1,994,000 after acquiring an additional 26,553 shares during the last quarter. Creative Planning boosted its holdings in shares of First Majestic Silver by 25.3% during the 2nd quarter. Creative Planning now owns 28,837 shares of the mining company’s stock valued at $238,000 after acquiring an additional 5,828 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in First Majestic Silver by 12.8% during the 2nd quarter. Franklin Resources Inc. now owns 25,940 shares of the mining company’s stock worth $215,000 after acquiring an additional 2,936 shares during the last quarter. 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.