First Majestic Silver (TSE:FR) Price Target Cut to C$11.25

First Majestic Silver (TSE:FR) (NYSE:AG) had its price target cut by equities research analysts at National Bank Financial from C$13.25 to C$11.25 in a report issued on Wednesday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the mining company’s stock. National Bank Financial’s price target indicates a potential upside of 10.51% from the company’s previous close.

Several other research analysts have also commented on FR. TD Securities reduced their price objective on shares of First Majestic Silver from C$18.50 to C$17.50 and set a “buy” rating for the company in a research note on Monday, January 27th. Cormark reduced their price objective on shares of First Majestic Silver from C$17.00 to C$16.50 in a research note on Wednesday, January 22nd. Finally, BMO Capital Markets reduced their price objective on shares of First Majestic Silver from C$12.00 to C$10.50 in a research note on Wednesday, January 22nd.

Shares of FR opened at C$10.18 on Wednesday. The company has a 50 day moving average price of C$10.87 and a 200-day moving average price of C$13.07. First Majestic Silver has a fifty-two week low of C$5.30 and a fifty-two week high of C$16.50. The stock has a market capitalization of $1.68 billion and a PE ratio of -50.65. The company has a debt-to-equity ratio of 26.84, a quick ratio of 2.92 and a current ratio of 3.38.

In other First Majestic Silver news, Senior Officer Connie Lillico sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of C$16.00, for a total transaction of C$80,000.00. Following the transaction, the insider now owns 116,500 shares in the company, valued at approximately C$1,864,000. Also, Director Douglas John Penrose sold 70,416 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of C$16.21, for a total transaction of C$1,141,689.82. Following the transaction, the director now owns 9,195 shares in the company, valued at approximately C$149,083.13. In the last quarter, insiders have purchased 17,305 shares of company stock valued at $180,595 and have sold 80,416 shares valued at $1,289,993.

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 San Dimas Silver/Gold Mine covering an area of 71,867 hectares located in Durango; the Santa Elena Silver/Gold Mine covering an area of 101,772 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco, as well as 1,296 hectares of surface land; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; and Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas in Mexico.

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