First Majestic Silver (AG) Shares Gap Up to $7.35

First Majestic Silver Corp (NYSE:AG) (TSE:FR)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $7.71, but opened at $7.35. First Majestic Silver shares last traded at $7.39, with a volume of 2331085 shares traded.

A number of equities analysts have weighed in on AG shares. ValuEngine lowered shares of First Majestic Silver from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Zacks Investment Research upgraded shares of First Majestic Silver from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 4th. HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of First Majestic Silver in a research report on Tuesday. BMO Capital Markets started coverage on shares of First Majestic Silver in a research report on Friday, November 17th. They set a “market perform” rating for the company. Finally, Scotiabank dropped their target price on shares of First Majestic Silver from $11.50 to $9.75 and set a “sector perform” rating for the company in a research report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $10.50.

The company has a quick ratio of 3.38, a current ratio of 3.77 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1,200.00, a PE ratio of 230.67 and a beta of 0.20.

Large investors have recently modified their holdings of the stock. Virtu Financial LLC lifted its position in First Majestic Silver by 176.3% during the third quarter. Virtu Financial LLC now owns 48,709 shares of the mining company’s stock valued at $143,000 after purchasing an additional 31,080 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in First Majestic Silver during the third quarter valued at $346,000. PEAK6 Investments L.P. lifted its position in First Majestic Silver by 191.9% during the third quarter. PEAK6 Investments L.P. now owns 53,198 shares of the mining company’s stock valued at $364,000 after purchasing an additional 34,975 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in First Majestic Silver by 513.6% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 2,109,456 shares of the mining company’s stock valued at $14,429,000 after purchasing an additional 1,765,678 shares during the last quarter. Finally, ING Groep NV lifted its position in First Majestic Silver by 60.1% during the third quarter. ING Groep NV now owns 26,420 shares of the mining company’s stock valued at $181,000 after purchasing an additional 9,920 shares during the last quarter. Hedge funds and other institutional investors own 29.95% of the company’s stock.

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About First Majestic Silver

First Majestic Silver Corp. is a mining company. The Company is focused on silver production in Mexico and it is pursuing the development of its existing mineral property assets. The Company operates through eight segments, six of which are located in Mexico; one retail market segment in Canada, and one metal trading segment in Europe.

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