First Majestic Silver (AG) Upgraded to Buy by ValuEngine

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

Several other research firms have also commented on AG. Zacks Investment Research raised shares of First Majestic Silver from a hold rating to a buy rating and set a $9.25 price objective for the company in a research note on Tuesday, July 10th. HC Wainwright dropped their price objective on shares of First Majestic Silver from $11.50 to $10.00 and set a buy rating for the company in a research note on Tuesday, July 17th. BMO Capital Markets raised shares of First Majestic Silver from a market perform rating to an outperform rating in a research note on Monday, August 27th. Finally, National Bank Financial reaffirmed a sector perform market weight rating on shares of First Majestic Silver in a research note on Monday, August 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $9.00.

AG traded down $0.06 during trading hours on Friday, hitting $6.16. The company’s stock had a trading volume of 3,790,738 shares, compared to its average volume of 3,023,500. First Majestic Silver has a 12 month low of $4.93 and a 12 month high of $8.48. The stock has a market capitalization of $1.10 billion, a PE ratio of -154.00 and a beta of 0.08. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.74 and a current ratio of 3.20.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Monday, August 13th. The mining company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The business had revenue of $79.70 million during the quarter, compared to the consensus estimate of $111.49 million. First Majestic Silver had a negative return on equity of 4.40% and a negative net margin of 39.42%. The company’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) EPS. As a group, research analysts forecast that First Majestic Silver will post -0.16 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of AG. Sigma Planning Corp boosted its stake in shares of First Majestic Silver by 14.6% during the second quarter. Sigma Planning Corp now owns 63,226 shares of the mining company’s stock valued at $482,000 after purchasing an additional 8,075 shares during the period. Sei Investments Co. boosted its stake in shares of First Majestic Silver by 99.7% during the first quarter. Sei Investments Co. now owns 17,379 shares of the mining company’s stock valued at $106,000 after purchasing an additional 8,675 shares during the period. Wells Fargo & Company MN boosted its stake in shares of First Majestic Silver by 14.2% during the first quarter. Wells Fargo & Company MN now owns 89,056 shares of the mining company’s stock valued at $544,000 after purchasing an additional 11,062 shares during the period. Kovack Advisors Inc. purchased a new stake in shares of First Majestic Silver during the second quarter valued at $101,000. Finally, Aperio Group LLC boosted its stake in shares of First Majestic Silver by 12.8% during the second quarter. Aperio Group LLC now owns 121,081 shares of the mining company’s stock valued at $924,000 after purchasing an additional 13,705 shares during the period. 25.83% of the stock is owned by institutional investors.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.

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Analyst Recommendations for First Majestic Silver (NYSE:AG)

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