TheStreet Upgrades First Majestic Silver (NYSE:AG) to “C-“

First Majestic Silver (NYSE:AG) (TSE:FR) was upgraded by equities researchers at TheStreet from a “d+” rating to a “c-” rating in a research report issued to clients and investors on Thursday, TheStreetRatingsTable reports.

AG has been the topic of a number of other reports. HC Wainwright set a $11.00 target price on Cerecor and gave the stock a “buy” rating in a report on Wednesday, April 17th. BMO Capital Markets reaffirmed a “hold” rating on shares of First Majestic Silver in a report on Tuesday, April 2nd. Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Finally, ValuEngine cut Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $7.69.

Shares of First Majestic Silver stock opened at $9.90 on Thursday. First Majestic Silver has a one year low of $4.59 and a one year high of $10.24. The business has a fifty day moving average of $7.37. The company has a market cap of $2.00 billion, a PE ratio of -47.14 and a beta of 0.10. The company has a current ratio of 3.24, a quick ratio of 2.78 and a debt-to-equity ratio of 0.24.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, May 9th. The mining company reported ($0.01) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.01). First Majestic Silver had a negative return on equity of 4.63% and a negative net margin of 59.46%. The company had revenue of $86.80 million for the quarter, compared to analysts’ expectations of $124.73 million. During the same period last year, the firm earned ($0.03) EPS. First Majestic Silver’s revenue for the quarter was up 48.1% compared to the same quarter last year. As a group, equities research analysts anticipate that First Majestic Silver will post 0.04 EPS for the current fiscal year.

In other First Majestic Silver news, major shareholder Vinita Lee Piper purchased 22,055 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was acquired at an average price of $5.93 per share, for a total transaction of $130,786.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.85% of the company’s stock.

A number of hedge funds have recently modified their holdings of AG. Nordea Investment Management AB purchased a new position in shares of First Majestic Silver during the first quarter valued at about $27,000. IHT Wealth Management LLC purchased a new position in shares of First Majestic Silver during the fourth quarter valued at about $70,000. QCM Cayman Ltd. purchased a new position in shares of First Majestic Silver during the first quarter valued at about $168,000. Teza Capital Management LLC purchased a new position in shares of First Majestic Silver during the first quarter valued at about $192,000. Finally, Commonwealth Equity Services LLC grew its position in shares of First Majestic Silver by 12.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 45,059 shares of the mining company’s stock valued at $265,000 after purchasing an additional 5,038 shares in the last quarter. Institutional investors and hedge funds own 25.78% 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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