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 report published on Wednesday morning.

A number of other research firms have also weighed in on AG. Roth Capital set a $8.00 price target on shares of First Majestic Silver and gave the stock a buy rating in a research report on Tuesday, October 16th. HC Wainwright set a $9.00 price target on shares of First Majestic Silver and gave the stock a buy rating in a research report on Tuesday, October 16th. TD Securities reiterated a buy rating on shares of First Majestic Silver in a research report on Monday, October 22nd. Zacks Investment Research lowered shares of First Majestic Silver from a hold rating to a strong sell rating in a research report on Friday, October 12th. Finally, Credit Suisse Group lowered shares of First Majestic Silver from a buy rating to a hold rating in a research report on Friday, November 2nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. First Majestic Silver has an average rating of Buy and a consensus price target of $8.75.

AG opened at $5.09 on Wednesday. First Majestic Silver has a 1-year low of $4.75 and a 1-year high of $8.48. The company has a quick ratio of 2.85, a current ratio of 3.38 and a debt-to-equity ratio of 0.20.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Wednesday, November 7th. The mining company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.01. The business had revenue of $88.50 million during the quarter, compared to analyst estimates of $126.56 million. First Majestic Silver had a negative net margin of 33.27% and a negative return on equity of 5.13%. First Majestic Silver’s revenue was up 43.0% on a year-over-year basis. Sell-side analysts anticipate that First Majestic Silver will post -0.16 EPS for the current year.

Several large investors have recently modified their holdings of AG. Wells Fargo & Company MN boosted its position 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 worth $544,000 after acquiring an additional 11,062 shares during the last quarter. BlackRock Inc. boosted its position in shares of First Majestic Silver by 170.5% during the first quarter. BlackRock Inc. now owns 33,792 shares of the mining company’s stock worth $206,000 after acquiring an additional 21,301 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of First Majestic Silver during the second quarter worth $153,000. Alps Advisors Inc. boosted its position in shares of First Majestic Silver by 8.3% during the second quarter. Alps Advisors Inc. now owns 1,054,560 shares of the mining company’s stock worth $7,108,000 after acquiring an additional 80,767 shares during the last quarter. Finally, Aperio Group LLC boosted its position 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 worth $924,000 after acquiring an additional 13,705 shares during the last quarter. Hedge funds and other institutional investors own 26.71% of the company’s stock.

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.

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Analyst Recommendations for First Majestic Silver (NYSE:AG)

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