First Majestic Silver (NYSE:AG) Rating Reiterated by HC Wainwright

First Majestic Silver (NYSE:AG) (TSE:FR)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research report issued on Friday, Benzinga reports. They currently have a $8.50 price target on the mining company’s stock. HC Wainwright’s price objective would suggest a potential upside of 83.59% from the stock’s current price.

Separately, Scotiabank upped their price objective on shares of First Majestic Silver from $5.50 to $6.50 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, First Majestic Silver has an average rating of “Hold” and a consensus price target of $7.50.

First Majestic Silver Trading Down 4.9 %

NYSE AG opened at $4.63 on Friday. The stock has a market cap of $1.34 billion, a P/E ratio of -28.94 and a beta of 1.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.44 and a current ratio of 3.05. The stock has a 50 day simple moving average of $5.76 and a two-hundred day simple moving average of $6.17. First Majestic Silver has a fifty-two week low of $4.17 and a fifty-two week high of $8.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Thursday, August 1st. The mining company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). First Majestic Silver had a negative return on equity of 4.39% and a negative net margin of 15.37%. The firm had revenue of $136.20 million during the quarter, compared to the consensus estimate of $129.74 million. During the same period in the previous year, the firm earned ($0.02) EPS. The business’s revenue was down 7.2% on a year-over-year basis. On average, analysts forecast that First Majestic Silver will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On First Majestic Silver

A number of large investors have recently modified their holdings of AG. Cetera Advisors LLC grew its stake in First Majestic Silver by 3.1% during the 1st quarter. Cetera Advisors LLC now owns 53,577 shares of the mining company’s stock worth $315,000 after buying an additional 1,601 shares during the last quarter. Trexquant Investment LP lifted its stake in shares of First Majestic Silver by 1.8% in the fourth quarter. Trexquant Investment LP now owns 178,151 shares of the mining company’s stock worth $1,096,000 after buying an additional 3,069 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of First Majestic Silver by 39.5% in the second quarter. International Assets Investment Management LLC now owns 13,995 shares of the mining company’s stock worth $83,000 after acquiring an additional 3,960 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in First Majestic Silver by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 238,618 shares of the mining company’s stock valued at $1,411,000 after buying an additional 3,980 shares during the period. Finally, Sprott Inc. grew its stake in shares of First Majestic Silver by 0.5% in the 4th quarter. Sprott Inc. now owns 787,862 shares of the mining company’s stock valued at $4,838,000 after purchasing an additional 4,257 shares during the period. Institutional investors and hedge funds own 27.16% of the company’s stock.

About First Majestic Silver

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.