First Majestic Silver (NYSE:AG) Stock Rating Lowered by Zacks Research

First Majestic Silver (NYSE:AG) (TSE:FR) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also recently commented on AG. Wall Street Zen upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. BMO Capital Markets upgraded First Majestic Silver from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 24th. Scotiabank upped their price target on First Majestic Silver from $12.50 to $23.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. HC Wainwright raised their price objective on shares of First Majestic Silver to $30.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. 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 company’s stock. According to MarketBeat.com, First Majestic Silver has an average rating of “Moderate Buy” and a consensus price target of $25.00.

First Majestic Silver Trading Up 3.1%

AG opened at $22.14 on Tuesday. The business has a fifty day moving average price of $23.95 and a 200 day moving average price of $17.79. 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 12 month low of $5.18 and a 12 month high of $32.03. The stock has a market capitalization of $10.91 billion, a price-to-earnings ratio of 63.26 and a beta of 0.97.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $561.30 million. During the same quarter last year, the business posted $0.03 EPS. The business’s quarterly revenue was up 169.2% compared to the same quarter last year. Sell-side analysts expect that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

Institutional Trading of First Majestic Silver

Several institutional investors and hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp raised its holdings in shares of First Majestic Silver by 32.0% in the third quarter. Van ECK Associates Corp now owns 43,225,807 shares of the mining company’s stock valued at $531,234,000 after buying an additional 10,471,543 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of First Majestic Silver by 14.0% in the third quarter. Tidal Investments LLC now owns 21,014,859 shares of the mining company’s stock valued at $258,273,000 after buying an additional 2,581,023 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of First Majestic Silver by 5.2% during the 4th quarter. Vanguard Group Inc. now owns 18,995,222 shares of the mining company’s stock worth $316,914,000 after purchasing an additional 945,067 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in First Majestic Silver by 38.5% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,932,368 shares of the mining company’s stock worth $232,539,000 after buying an additional 5,265,612 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of First Majestic Silver by 408.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company’s stock worth $250,821,000 after acquiring an additional 12,081,688 shares during the period. Hedge funds and other institutional investors own 27.16% of the company’s stock.

About First Majestic Silver

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.