HC Wainwright Increases First Majestic Silver (NYSE:AG) Price Target to $8.50

First Majestic Silver (NYSE:AG) (TSE:FR) had its price target raised by equities research analysts at HC Wainwright from $7.00 to $8.50 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the mining company’s stock. HC Wainwright’s price target would suggest a potential upside of 25.55% from the company’s previous close.

Separately, StockNews.com upgraded First Majestic Silver to a “sell” rating in a research note on Monday, February 26th.

First Majestic Silver Stock Down 1.0 %

Shares of AG stock opened at $6.77 on Friday. First Majestic Silver has a 1-year low of $4.17 and a 1-year high of $8.44. The stock’s fifty day moving average price is $5.66 and its 200 day moving average price is $5.48. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.57 and a quick ratio of 2.04. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -14.10 and a beta of 1.43.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, February 22nd. The mining company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. First Majestic Silver had a negative return on equity of 1.85% and a negative net margin of 23.55%. The firm had revenue of $136.95 million for the quarter. During the same quarter last year, the firm earned ($0.07) earnings per share. On average, research analysts expect that First Majestic Silver will post -0.06 earnings per share for the current fiscal year.

Institutional Trading of First Majestic Silver

A number of hedge funds have recently modified their holdings of AG. Moneta Group Investment Advisors LLC boosted its stake in shares of First Majestic Silver by 105,048.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 47,055,036 shares of the mining company’s stock worth $392,439,000 after buying an additional 47,010,285 shares during the last quarter. Voloridge Investment Management LLC boosted its position in First Majestic Silver by 449.3% during the fourth quarter. Voloridge Investment Management LLC now owns 1,537,675 shares of the mining company’s stock worth $9,457,000 after purchasing an additional 1,257,734 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in First Majestic Silver in the second quarter valued at approximately $9,005,000. Goldman Sachs Group Inc. grew its holdings in First Majestic Silver by 231.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,614,262 shares of the mining company’s stock valued at $9,928,000 after purchasing an additional 1,127,952 shares during the period. Finally, Van ECK Associates Corp grew its holdings in First Majestic Silver by 3.8% in the third quarter. Van ECK Associates Corp now owns 29,631,966 shares of the mining company’s stock valued at $152,012,000 after purchasing an additional 1,079,150 shares during the period. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Company Profile

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.