HC Wainwright Boosts First Majestic Silver (NYSE:AG) Price Target to $8.50

First Majestic Silver (NYSE:AG) (TSE:FR) had its price objective increased by HC Wainwright from $7.00 to $8.50 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the mining company’s stock. HC Wainwright’s target price would indicate a potential upside of 25.55% from the company’s current price.

Separately, StockNews.com upgraded shares of First Majestic Silver to a “sell” rating in a research report on Monday, February 26th.

First Majestic Silver Price Performance

Shares of NYSE:AG opened at $6.77 on Friday. First Majestic Silver has a 12 month low of $4.17 and a 12 month high of $8.44. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -14.10 and a beta of 1.43. The stock’s 50 day moving average price is $5.66 and its 200 day moving average price is $5.48. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.57 and a quick ratio of 2.04.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, February 22nd. The mining company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The firm had revenue of $136.95 million for the quarter. First Majestic Silver had a negative return on equity of 1.85% and a negative net margin of 23.55%. During the same period in the previous year, the firm earned ($0.07) EPS. Equities research analysts anticipate that First Majestic Silver will post -0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Majestic Silver

Several institutional investors and hedge funds have recently added to or reduced their stakes in AG. Franklin Resources Inc. grew its holdings in shares of First Majestic Silver by 9.0% during the 4th quarter. Franklin Resources Inc. now owns 20,763 shares of the mining company’s stock valued at $173,000 after acquiring an additional 1,717 shares in the last quarter. IHT Wealth Management LLC grew its holdings in shares of First Majestic Silver by 16.0% during the 1st quarter. IHT Wealth Management LLC now owns 14,512 shares of the mining company’s stock valued at $191,000 after acquiring an additional 2,000 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of First Majestic Silver by 3.0% during the 3rd quarter. American Century Companies Inc. now owns 68,500 shares of the mining company’s stock valued at $351,000 after acquiring an additional 2,000 shares in the last quarter. CWM LLC grew its holdings in shares of First Majestic Silver by 59.7% during the 3rd quarter. CWM LLC now owns 5,433 shares of the mining company’s stock valued at $28,000 after acquiring an additional 2,030 shares in the last quarter. Finally, Profund Advisors LLC grew its holdings in shares of First Majestic Silver by 12.6% during the 1st quarter. Profund Advisors LLC now owns 19,117 shares of the mining company’s stock valued at $138,000 after acquiring an additional 2,145 shares in the last quarter. 27.16% of the stock is currently owned by hedge funds and other 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 and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.