First Majestic Silver Corp. (AG) Receives $12.67 Consensus Price Target from Brokerages
First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has received an average rating of “Hold” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $12.67.
Several equities research analysts have commented on AG shares. BidaskClub cut shares of First Majestic Silver Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Zacks Investment Research upgraded shares of First Majestic Silver Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of First Majestic Silver Corp. in a research report on Friday, August 4th.
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Shares of First Majestic Silver Corp. (NYSE:AG) traded down 1.23% during midday trading on Friday, reaching $7.24. The stock has a 50 day moving average of $7.05 and a 200 day moving average of $7.76. First Majestic Silver Corp. has a 52-week low of $5.92 and a 52-week high of $10.92. The firm has a market cap of $1.20 billion, a PE ratio of 92.82 and a beta of 0.21.
First Majestic Silver Corp. (NYSE:AG) (TSE:FR) last issued its quarterly earnings results on Thursday, August 3rd. The mining company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). First Majestic Silver Corp. had a return on equity of 1.60% and a net margin of 5.11%. The business had revenue of $60.10 million during the quarter, compared to the consensus estimate of $77.62 million. During the same quarter last year, the firm posted $0.03 earnings per share. First Majestic Silver Corp.’s revenue was down 9.1% compared to the same quarter last year.
Institutional investors have recently modified their holdings of the business. Sei Investments Co. raised its position in First Majestic Silver Corp. by 1,046.9% in the second quarter. Sei Investments Co. now owns 12,157 shares of the mining company’s stock worth $101,000 after acquiring an additional 11,097 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in First Majestic Silver Corp. in the 1st quarter worth about $102,000. Advisor Group Inc. increased its stake in First Majestic Silver Corp. by 1.6% in the 2nd quarter. Advisor Group Inc. now owns 43,521 shares of the mining company’s stock worth $102,000 after purchasing an additional 695 shares in the last quarter. Scotia Capital Inc. purchased a new position in First Majestic Silver Corp. in the 2nd quarter worth about $105,000. Finally, Quantbot Technologies LP purchased a new position in First Majestic Silver Corp. in the 2nd quarter worth about $126,000. Hedge funds and other institutional investors own 29.35% of the company’s stock.
About First Majestic Silver Corp.
First Majestic Silver Corp. is a mining company. The Company is focused on silver production in Mexico and it is pursuing the development of its existing mineral property assets. The Company operates through eight segments, six of which are located in Mexico; one retail market segment in Canada, and one metal trading segment in Europe.
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