ValuEngine upgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) from a hold rating to a buy rating in a report released on Friday.

A number of other brokerages also recently commented on AG. HC Wainwright reduced their target price on shares of First Majestic Silver from $11.50 to $10.00 and set a buy rating for the company in a report on Tuesday, July 17th. BMO Capital Markets upgraded shares of First Majestic Silver from a market perform rating to an outperform rating in a report on Monday, August 27th. National Bank Financial reiterated a sector perform market weight rating on shares of First Majestic Silver in a report on Monday, August 13th. Finally, Zacks Investment Research downgraded shares of First Majestic Silver from a hold rating to a sell rating in a report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $9.00.

NYSE:AG traded down $0.06 during mid-day trading on Friday, reaching $6.16. The company’s stock had a trading volume of 3,790,738 shares, compared to its average volume of 3,023,500. First Majestic Silver has a 1 year low of $4.93 and a 1 year high of $8.48. The firm has a market cap of $1.10 billion, a PE ratio of -154.00 and a beta of 0.08. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.20 and a quick ratio of 2.74.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Monday, August 13th. The mining company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.05). First Majestic Silver had a negative return on equity of 4.40% and a negative net margin of 39.42%. The business had revenue of $79.70 million during the quarter, compared to analysts’ expectations of $111.49 million. During the same period last year, the company earned ($0.01) earnings per share. The firm’s revenue was up 32.6% compared to the same quarter last year. Sell-side analysts anticipate that First Majestic Silver will post -0.16 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. Kovack Advisors Inc. acquired a new position in shares of First Majestic Silver during the second quarter valued at about $101,000. Sei Investments Co. increased its holdings in shares of First Majestic Silver by 99.7% during the first quarter. Sei Investments Co. now owns 17,379 shares of the mining company’s stock valued at $106,000 after acquiring an additional 8,675 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of First Majestic Silver during the second quarter valued at about $153,000. Tower Research Capital LLC TRC increased its holdings in shares of First Majestic Silver by 235.2% during the second quarter. Tower Research Capital LLC TRC now owns 20,171 shares of the mining company’s stock valued at $154,000 after acquiring an additional 14,154 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of First Majestic Silver by 170.5% during the first quarter. BlackRock Inc. now owns 33,792 shares of the mining company’s stock valued at $206,000 after acquiring an additional 21,301 shares in the last quarter. Institutional investors and hedge funds own 25.83% of the company’s stock.

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 production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.

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Analyst Recommendations for First Majestic Silver (NYSE:AG)

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