Research analysts at B. Riley started coverage on shares of First Majestic Silver (NYSE:AG) (TSE:FR) in a research report issued to clients and investors on Friday. The brokerage set a “neutral” rating and a $6.00 price target on the mining company’s stock. B. Riley’s price objective points to a potential downside of 10.98% from the stock’s previous close.
Several other equities analysts have also weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $7.50 price objective on shares of First Majestic Silver in a report on Tuesday, January 15th. ValuEngine upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating in a report on Friday, January 25th. BMO Capital Markets lowered shares of First Majestic Silver from an “outperform” rating to a “market perform” rating in a report on Monday, January 14th. Finally, Credit Suisse Group lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a report on Friday, November 2nd. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $8.00.
Get First Majestic Silver alerts:Shares of AG stock opened at $6.74 on Friday. First Majestic Silver has a 1 year low of $4.59 and a 1 year high of $8.48. The company has a market cap of $1.31 billion, a PE ratio of -168.50 and a beta of -0.13. The company has a current ratio of 3.38, a quick ratio of 2.85 and a debt-to-equity ratio of 0.20.
First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Monday, February 25th. The mining company reported ($0.05) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). First Majestic Silver had a negative net margin of 33.27% and a negative return on equity of 5.13%. The business had revenue of $74.10 million for the quarter, compared to analyst estimates of $116.30 million. During the same period in the prior year, the business posted ($0.04) earnings per share. First Majestic Silver’s revenue was up 21.1% compared to the same quarter last year. Research analysts predict that First Majestic Silver will post -0.21 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of First Majestic Silver by 120.5% during the second quarter. BlackRock Inc. now owns 74,497 shares of the mining company’s stock worth $568,000 after acquiring an additional 40,705 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of First Majestic Silver by 10.3% during the third 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 in the last quarter. Fosun International Ltd bought a new stake in shares of First Majestic Silver during the third quarter worth $551,000. Hsbc Holdings PLC increased its position in shares of First Majestic Silver by 44.3% during the third quarter. Hsbc Holdings PLC now owns 95,837 shares of the mining company’s stock worth $544,000 after acquiring an additional 29,422 shares in the last quarter. Finally, Fore Capital LLC bought a new stake in shares of First Majestic Silver during the third quarter worth $142,000. Institutional investors own 26.68% 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 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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