HC Wainwright Reiterates “Buy” Rating for First Majestic Silver (NYSE:AG)

First Majestic Silver (NYSE:AG) (TSE:FR)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued on Thursday, Benzinga reports. They presently have a $8.50 price target on the mining company’s stock. HC Wainwright’s price target suggests a potential upside of 19.55% from the company’s current price.

Separately, StockNews.com raised First Majestic Silver to a “sell” rating in a report on Monday, February 26th.

First Majestic Silver Stock Down 1.9 %

Shares of NYSE:AG opened at $7.11 on Thursday. First Majestic Silver has a 12-month low of $4.17 and a 12-month high of $8.44. The stock has a market capitalization of $2.04 billion, a P/E ratio of -14.81 and a beta of 1.39. The stock’s 50-day moving average price is $6.32 and its 200-day moving average price is $5.64. The company has a current ratio of 2.57, a quick ratio of 2.04 and a debt-to-equity ratio of 0.18.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Thursday, February 22nd. The mining company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. First Majestic Silver had a negative return on equity of 1.85% and a negative net margin of 23.55%. The firm had revenue of $136.95 million during the quarter. During the same period in the prior year, the firm earned ($0.07) EPS. On average, equities analysts anticipate that First Majestic Silver will post -0.01 earnings per share for the current year.

Institutional Investors Weigh In On First Majestic Silver

Several large investors have recently modified their holdings of the business. SG Americas Securities LLC grew its position in First Majestic Silver by 145.4% during the 1st quarter. SG Americas Securities LLC now owns 424,917 shares of the mining company’s stock worth $2,499,000 after purchasing an additional 251,741 shares during the last quarter. Quantbot Technologies LP lifted its stake in shares of First Majestic Silver by 43.2% in the 1st quarter. Quantbot Technologies LP now owns 183,864 shares of the mining company’s stock valued at $1,081,000 after purchasing an additional 55,453 shares during the period. Oxbow Advisors LLC acquired a new stake in shares of First Majestic Silver during the 1st quarter valued at about $111,000. Geneos Wealth Management Inc. increased its position in shares of First Majestic Silver by 15.5% in the first quarter. Geneos Wealth Management Inc. now owns 78,327 shares of the mining company’s stock valued at $461,000 after buying an additional 10,500 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in First Majestic Silver by 5.1% in the 1st quarter. Van ECK Associates Corp now owns 31,876,555 shares of the mining company’s stock worth $187,433,000 after acquiring an additional 1,534,710 shares in the last quarter. Institutional investors own 27.16% of the company’s stock.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.