ValuEngine Upgrades First Majestic Silver (AG) to Hold

ValuEngine upgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) from a sell rating to a hold rating in a research report released on Monday.

Several other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of First Majestic Silver from a strong-buy rating to a hold rating in a research note on Monday, December 25th. BMO Capital Markets lowered shares of First Majestic Silver from a market perform rating to an underperform rating in a research note on Friday, December 22nd. HC Wainwright reissued a buy rating and set a $12.00 target price on shares of First Majestic Silver in a research note on Friday, March 2nd. National Bank Financial lowered shares of First Majestic Silver from an outperform rating to a sector perform rating in a research note on Friday, January 26th. Finally, TheStreet lowered shares of First Majestic Silver from a c- rating to a d rating in a research note on Friday, March 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $9.83.

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AG opened at $6.17 on Monday. First Majestic Silver has a twelve month low of $4.93 and a twelve month high of $9.59. The company has a current ratio of 3.14, a quick ratio of 2.79 and a debt-to-equity ratio of 0.04.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Wednesday, February 28th. The mining company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.03). First Majestic Silver had a negative return on equity of 1.00% and a negative net margin of 21.12%. The firm had revenue of $61.17 million for the quarter, compared to analyst estimates of $65.00 million. research analysts forecast that First Majestic Silver will post 0.03 EPS for the current year.

First Majestic Silver declared that its board has authorized a share repurchase plan on Monday, March 19th that allows the company to repurchase 8,290,000 outstanding shares. This repurchase authorization allows the mining company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC lifted its stake in shares of First Majestic Silver by 176.3% in the third quarter. Virtu Financial LLC now owns 48,709 shares of the mining company’s stock valued at $143,000 after buying an additional 31,080 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of First Majestic Silver by 170.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,852 shares of the mining company’s stock valued at $215,000 after buying an additional 20,064 shares in the last quarter. Two Sigma Securities LLC bought a new position in shares of First Majestic Silver in the fourth quarter valued at $215,000. Cypress Wealth Services LLC bought a new position in shares of First Majestic Silver in the fourth quarter valued at $294,000. Finally, LPL Financial LLC bought a new position in shares of First Majestic Silver in the fourth quarter valued at $311,000. 29.46% of the stock is currently owned by hedge funds and other institutional investors.

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First Majestic Silver Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for First Majestic Silver (NYSE:AG)

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