First Majestic Silver (AG) Upgraded at ValuEngine

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

Several other analysts have also recently weighed in on the stock. TD Securities reaffirmed a buy rating on shares of First Majestic Silver in a report on Thursday, November 8th. HC Wainwright set a $9.00 price objective on shares of First Majestic Silver and gave the stock a buy rating in a report on Thursday, November 8th. Credit Suisse Group cut shares of First Majestic Silver from a buy rating to a hold rating in a report on Friday, November 2nd. Zacks Investment Research raised shares of First Majestic Silver from a strong sell rating to a hold rating in a report on Friday, October 26th. Finally, Roth Capital set a $8.00 price objective on shares of First Majestic Silver and gave the stock a buy rating in a report on Tuesday, October 16th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $8.75.

Shares of NYSE:AG opened at $5.14 on Wednesday. The company has a market capitalization of $950.43 million, a P/E ratio of -128.50 and a beta of 0.18. First Majestic Silver has a fifty-two week low of $4.59 and a fifty-two week high of $8.48. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.85 and a current ratio of 3.38.

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

A number of hedge funds have recently added to or reduced their stakes in AG. Van ECK Associates Corp raised its holdings in First Majestic Silver by 17.0% during the second quarter. Van ECK Associates Corp now owns 23,913,609 shares of the mining company’s stock worth $182,461,000 after purchasing an additional 3,471,408 shares in the last quarter. Morgan Stanley raised its holdings in First Majestic Silver by 39.4% during the third quarter. Morgan Stanley now owns 3,884,212 shares of the mining company’s stock worth $22,063,000 after purchasing an additional 1,097,560 shares in the last quarter. CIBC Asset Management Inc raised 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 purchasing an additional 283,464 shares in the last quarter. Capital Fund Management S.A. purchased a new position in shares of First Majestic Silver during the second quarter worth approximately $1,920,000. Finally, Global X Management Co LLC grew its position in shares of 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 acquiring an additional 123,287 shares during the last quarter. 25.71% of the stock is currently owned by institutional investors.

First Majestic Silver Company Profile

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.

Further Reading: Penny Stocks, What You Need To Know

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.

Leave a Reply