First Majestic Silver (NYSE:AG) (TSE:FR) announced that its Board of Directors has initiated a share buyback program, which allows the company to buyback 8,290,000 outstanding shares on Monday, March 19th, EventVestor reports. This buyback authorization allows the mining company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

A number of brokerages have issued reports on AG. HC Wainwright set a $12.00 price target on shares of First Majestic Silver and gave the stock a “buy” rating in a research note on Wednesday, March 14th. ValuEngine lowered shares of First Majestic Silver from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. National Bank Financial lowered shares of First Majestic Silver from an “outperform” rating to a “sector perform” rating in a research note on Friday, January 26th. Zacks Investment Research lowered shares of First Majestic Silver from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. Finally, BMO Capital Markets lowered shares of First Majestic Silver from a “market perform” rating to an “underperform” rating in a research note on Saturday, December 30th. Four analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $9.83.

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Shares of First Majestic Silver (NYSE AG) opened at $5.97 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.79 and a current ratio of 3.14. First Majestic Silver has a one year low of $4.93 and a one year high of $9.59. The firm has a market cap of $984.42, a P/E ratio of -18.66 and a beta of 0.32.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Wednesday, February 28th. The mining company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.03). First Majestic Silver had a negative return on equity of 1.00% and a negative net margin of 21.12%. The firm had revenue of $61.17 million for the quarter, compared to analysts’ expectations of $65.00 million. analysts predict that First Majestic Silver will post 0.03 EPS for the current fiscal year.

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First Majestic Silver Company Profile

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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