First Majestic Silver (AG) Lifted to “Buy” at ValuEngine

Share on StockTwits

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

Several other brokerages have also issued reports on AG. TD Securities restated a buy rating on shares of First Majestic Silver in a research report on Monday, October 22nd. Roth Capital set a $8.00 target price on First Majestic Silver and gave the company a buy rating in a research report on Tuesday, October 16th. HC Wainwright set a $9.00 target price on First Majestic Silver and gave the company a buy rating in a research report on Tuesday, October 16th. Credit Suisse Group lowered First Majestic Silver from a buy rating to a hold rating in a research report on Friday, November 2nd. Finally, Zacks Investment Research upgraded First Majestic Silver from a strong sell rating to a hold rating in a research report on Friday, October 26th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. First Majestic Silver presently has an average rating of Buy and an average target price of $8.75.

Shares of NYSE AG opened at $4.94 on Wednesday. The company has a current ratio of 3.38, a quick ratio of 2.85 and a debt-to-equity ratio of 0.20. First Majestic Silver has a 1-year low of $4.59 and a 1-year high of $8.48. The company has a market cap of $956.71 million, a price-to-earnings ratio of -123.50 and a beta of 0.18.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Wednesday, November 7th. The mining company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. First Majestic Silver had a negative return on equity of 5.13% and a negative net margin of 33.27%. The company had revenue of $88.50 million for the quarter, compared to analysts’ expectations of $126.56 million. The firm’s revenue was up 43.0% compared to the same quarter last year. As a group, analysts predict that First Majestic Silver will post -0.16 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in AG. Van ECK Associates Corp boosted its holdings in shares of First Majestic Silver by 17.0% in the second quarter. Van ECK Associates Corp now owns 23,913,609 shares of the mining company’s stock valued at $182,461,000 after purchasing an additional 3,471,408 shares during the period. Morgan Stanley boosted its holdings in shares of First Majestic Silver by 39.4% in the third quarter. Morgan Stanley now owns 3,884,212 shares of the mining company’s stock valued at $22,063,000 after purchasing an additional 1,097,560 shares during the period. CIBC Asset Management Inc lifted its holdings in First Majestic Silver by 121.7% during the second quarter. CIBC Asset Management Inc now owns 516,348 shares of the mining company’s stock worth $3,940,000 after buying an additional 283,464 shares during the period. Capital Fund Management S.A. purchased a new stake in First Majestic Silver during the second quarter worth $1,920,000. Finally, Global X Management Co LLC lifted its holdings in First Majestic Silver by 5.3% during the second quarter. Global X Management Co LLC now owns 2,461,083 shares of the mining company’s stock worth $18,765,000 after buying an additional 123,287 shares during the period. Hedge funds and other institutional investors own 25.71% of the company’s stock.

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.

Recommended Story: Day Trading

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

Analyst Recommendations for First Majestic Silver (NYSE:AG)

Receive News & Ratings for First Majestic Silver Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Majestic Silver and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Gardner Denver  Upgraded to Hold by Zacks Investment Research
Gardner Denver Upgraded to Hold by Zacks Investment Research
Mercantile Investment Trust PLC to Issue Dividend of GBX 1.25
Mercantile Investment Trust PLC to Issue Dividend of GBX 1.25
First Majestic Silver  Lifted to “Buy” at ValuEngine
First Majestic Silver Lifted to “Buy” at ValuEngine
Eastgroup Properties  Lowered to “Hold” at Zacks Investment Research
Eastgroup Properties Lowered to “Hold” at Zacks Investment Research
SANDVIK AB/ADR  Receiving Very Favorable Press Coverage, Study Shows
SANDVIK AB/ADR Receiving Very Favorable Press Coverage, Study Shows
SYNNEX  Lowered to Hold at Zacks Investment Research
SYNNEX Lowered to Hold at Zacks Investment Research


Leave a Reply

© 2006-2018 Ticker Report