First Majestic Silver Corp. (NYSE:AG) shares hit a new 52-week high on Wednesday . The company traded as high as $15.39 and last traded at $15.19, with a volume of 4,472,812 shares changing hands. The stock had previously closed at $14.94.

AG has been the topic of a number of recent analyst reports. BMO Capital Markets downgraded First Majestic Silver Corp. from a “market perform” rating to an “underperform” rating and raised their price objective for the company from $5.00 to $5.50 in a research note on Monday, March 14th. Desjardins downgraded First Majestic Silver Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, March 31st. Rodman & Renshaw raised their price objective on First Majestic Silver Corp. from $6.00 to $8.75 and gave the company a “buy” rating in a research note on Friday, April 15th. Raymond James Financial Inc. downgraded First Majestic Silver Corp. from a “market perform” rating to an “underperform” rating in a research note on Wednesday, April 20th. Finally, Zacks Investment Research raised First Majestic Silver Corp. from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, April 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $7.43.

The company has a 50-day moving average of $12.31 and a 200 day moving average of $7.44. The firm’s market cap is $2.32 billion.

First Majestic Silver Corp. (NYSE:AG) last posted its quarterly earnings data on Tuesday, May 10th. The mining company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.00 by $0.03. The firm had revenue of $66.50 million for the quarter, compared to analyst estimates of $64 million. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, analysts anticipate that First Majestic Silver Corp. will post $0.14 earnings per share for the current year.

Several hedge funds and institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. boosted its position in First Majestic Silver Corp. by 20.7% in the fourth quarter. Alps Advisors Inc. now owns 421,523 shares of the mining company’s stock valued at $1,378,000 after buying an additional 72,147 shares in the last quarter. TD Asset Management Inc. boosted its position in First Majestic Silver Corp. by 3.8% in the fourth quarter. TD Asset Management Inc. now owns 675,054 shares of the mining company’s stock valued at $2,192,000 after buying an additional 24,450 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its position in First Majestic Silver Corp. by 54.1% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 980,650 shares of the mining company’s stock valued at $3,207,000 after buying an additional 344,347 shares in the last quarter.

First Majestic Silver Corp is engaged in the business of silver production, development, exploration, and acquisition of mineral properties with a focus on silver production in Mexico. The Company has eight segments, including five operating segments located in Mexico, one development project in Mexico, one retail market segment in Canada and one silver trading segment in Europe.

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