First Majestic Silver Corp. (NYSE:AG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “First Majestic Silver Corp. is engaged in the production, development, exploration, and acquisition of silver mines in Mexico. First Majestic Silver Corp. is headquartered in Vancouver, Canada. “

Several other equities analysts also recently commented on AG. TheStreet downgraded shares of First Majestic Silver Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. BMO Capital Markets reiterated a “sell” rating and set a $10.00 price objective on shares of First Majestic Silver Corp. in a research note on Thursday, July 14th. Finally, TD Securities reiterated a “hold” rating and set a $23.00 price objective (up from $18.00) on shares of First Majestic Silver Corp. in a research note on Saturday, August 13th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $13.41.

Analyst Recommendations for First Majestic Silver Corp. (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG) traded down 5.37% on Tuesday, hitting $7.76. 6,151,179 shares of the stock were exchanged. First Majestic Silver Corp. has a one year low of $2.40 and a one year high of $19.15. The stock’s market capitalization is $1.27 billion. The company has a 50 day moving average of $11.40 and a 200 day moving average of $12.17.

First Majestic Silver Corp. (NYSE:AG) last released its quarterly earnings results on Wednesday, August 10th. The mining company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.01. First Majestic Silver Corp. had a negative net margin of 43.62% and a negative return on equity of 0.27%. The business earned $66.10 million during the quarter. During the same quarter in the previous year, the business earned ($0.03) EPS. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. On average, equities research analysts forecast that First Majestic Silver Corp. will post $0.18 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the stock. Weiss Asset Management LP bought a new stake in First Majestic Silver Corp. during the second quarter worth $71,299,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in First Majestic Silver Corp. during the second quarter worth $9,719,000. Sprott Inc. increased its stake in First Majestic Silver Corp. by 195.4% in the second quarter. Sprott Inc. now owns 787,668 shares of the mining company’s stock worth $10,697,000 after buying an additional 521,050 shares during the last quarter. Penserra Capital Management LLC bought a new stake in First Majestic Silver Corp. during the second quarter worth $6,337,000. Finally, TD Asset Management Inc. increased its stake in First Majestic Silver Corp. by 30.4% in the second quarter. TD Asset Management Inc. now owns 1,942,431 shares of the mining company’s stock worth $26,249,000 after buying an additional 453,177 shares during the last quarter. Institutional investors own 37.16% of the company’s stock.

About First Majestic Silver Corp.

First Majestic Silver Corp. (First Majestic) is a mining company. The Company is engaged in the business of silver production, development, exploration, and acquisition of mineral properties with a focus on silver production in Mexico. The Company operates through eight segments: six segments located in Mexico, one retail market segment in Canada and one metal trading segment in Europe.

5 Day Chart for NYSE:AG

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