First Majestic Silver (NYSE:AG) (TSE:FR) had its target price raised by B. Riley from $5.95 to $8.20 in a report issued on Monday morning, BenzingaRatingsTable reports. The firm currently has a neutral rating on the mining company’s stock.

Other research analysts also recently issued reports about the company. HC Wainwright raised their price objective on First Majestic Silver from $8.00 to $11.50 and gave the stock a buy rating in a report on Monday, August 19th. Zacks Investment Research downgraded First Majestic Silver from a buy rating to a hold rating in a report on Tuesday, July 23rd. ValuEngine upgraded First Majestic Silver from a buy rating to a strong-buy rating in a report on Wednesday, July 17th. Finally, TheStreet upgraded First Majestic Silver from a d+ rating to a c- rating in a report on Thursday, July 18th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $9.11.

Shares of NYSE AG opened at $9.96 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.66 and a current ratio of 3.13. The business’s 50 day moving average price is $10.35 and its 200-day moving average price is $7.65. First Majestic Silver has a fifty-two week low of $4.59 and a fifty-two week high of $11.62. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -47.43 and a beta of 0.08.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings results on Wednesday, August 7th. The mining company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The business had revenue of $83.67 million during the quarter, compared to analysts’ expectations of $87.77 million. First Majestic Silver had a negative return on equity of 3.57% and a negative net margin of 50.33%. During the same quarter in the previous year, the company posted ($0.07) earnings per share. Sell-side analysts predict that First Majestic Silver will post 0.04 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley boosted its position in First Majestic Silver by 3.8% during the 2nd quarter. Morgan Stanley now owns 5,280,691 shares of the mining company’s stock valued at $41,770,000 after acquiring an additional 191,881 shares in the last quarter. Vanguard Group Inc. boosted its position in First Majestic Silver by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 4,299,575 shares of the mining company’s stock valued at $34,010,000 after acquiring an additional 149,507 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in First Majestic Silver by 24.4% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 2,824,842 shares of the mining company’s stock valued at $22,345,000 after acquiring an additional 554,438 shares in the last quarter. Alps Advisors Inc. boosted its position in First Majestic Silver by 6.9% during the 2nd quarter. Alps Advisors Inc. now owns 985,028 shares of the mining company’s stock valued at $7,792,000 after acquiring an additional 63,895 shares in the last quarter. Finally, ETF Managers Group LLC boosted its position in First Majestic Silver by 0.8% during the 2nd quarter. ETF Managers Group LLC now owns 950,732 shares of the mining company’s stock valued at $7,387,000 after acquiring an additional 7,460 shares in the last quarter. 27.22% of the stock is currently owned by institutional investors and hedge funds.

About First Majestic Silver

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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