First Majestic Silver (NYSE:AG) (TSE:FR) has been assigned a $9.00 target price by HC Wainwright in a report issued on Thursday. The brokerage presently has a “buy” rating on the mining company’s stock. HC Wainwright’s target price indicates a potential upside of 66.67% from the stock’s current price.

AG has been the topic of a number of other research reports. ValuEngine cut First Majestic Silver from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. National Bank Financial reiterated a “sector perform market weight” rating on shares of First Majestic Silver in a research note on Monday, August 13th. Zacks Investment Research cut First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Credit Suisse Group cut First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Finally, Roth Capital set a $8.00 price objective on First Majestic Silver and gave the stock a “buy” rating in a research note on Tuesday, October 16th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. First Majestic Silver has a consensus rating of “Buy” and an average price target of $8.75.

Shares of First Majestic Silver stock traded down $0.14 on Thursday, reaching $5.40. 2,589,378 shares of the company were exchanged, compared to its average volume of 2,691,904. First Majestic Silver has a one year low of $4.93 and a one year high of $8.48. The stock has a market cap of $1.07 billion, a P/E ratio of -135.00 and a beta of 0.15. The company has a quick ratio of 2.74, a current ratio of 3.20 and a debt-to-equity ratio of 0.20.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Wednesday, November 7th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. First Majestic Silver had a negative return on equity of 5.36% and a negative net margin of 33.27%. The company had revenue of $88.50 million for the quarter, compared to analysts’ expectations of $126.56 million. The business’s quarterly revenue was up 43.0% on a year-over-year basis. On average, sell-side analysts expect that First Majestic Silver will post -0.19 EPS for the current year.

Several hedge funds have recently bought and sold shares of the stock. Sigma Planning Corp increased its holdings in shares of First Majestic Silver by 14.6% during the 2nd quarter. Sigma Planning Corp now owns 63,226 shares of the mining company’s stock worth $482,000 after acquiring an additional 8,075 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of First Majestic Silver by 10.3% during the 3rd quarter. Wells Fargo & Company MN now owns 93,926 shares of the mining company’s stock worth $533,000 after acquiring an additional 8,770 shares during the last quarter. Kovack Advisors Inc. acquired a new position in shares of First Majestic Silver during the 2nd quarter worth approximately $101,000. Aperio Group LLC increased its holdings in shares of First Majestic Silver by 12.8% during the 2nd quarter. Aperio Group LLC now owns 121,081 shares of the mining company’s stock worth $924,000 after acquiring an additional 13,705 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of First Majestic Silver by 235.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 20,171 shares of the mining company’s stock worth $154,000 after acquiring an additional 14,154 shares during the last quarter. 25.78% of the stock is currently owned by institutional investors and hedge funds.

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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