First Majestic Silver Corp. (NYSE:AG) saw a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 11,524,838 shares, a decrease of 25.6% from the September 15th total of 15,485,720 shares. Based on an average trading volume of 7,344,108 shares, the days-to-cover ratio is presently 1.6 days. Approximately 7.3% of the shares of the company are sold short.

A number of brokerages have commented on AG. TD Securities restated a “hold” rating and issued a $23.00 price target (up previously from $18.00) on shares of First Majestic Silver Corp. in a research report on Saturday, August 13th. TheStreet upgraded First Majestic Silver Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, July 7th. BMO Capital Markets restated a “sell” rating and issued a $10.00 price target on shares of First Majestic Silver Corp. in a research report on Thursday, July 14th. Finally, Zacks Investment Research upgraded First Majestic Silver Corp. from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Wednesday, July 13th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. First Majestic Silver Corp. currently has a consensus rating of “Hold” and an average target price of $15.44.

First Majestic Silver Corp. (NYSE:AG) opened at 7.85 on Tuesday. The company’s market cap is $1.29 billion. First Majestic Silver Corp. has a 1-year low of $2.40 and a 1-year high of $19.15. The stock has a 50 day moving average price of $10.76 and a 200-day moving average price of $12.20.

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

Hedge funds have recently modified their holdings of the company. Weiss Asset Management LP purchased a new stake in shares of First Majestic Silver Corp. during the second quarter worth approximately $71,299,000. Vanguard Group Inc. boosted its stake in shares of First Majestic Silver Corp. by 19.1% in the second quarter. Vanguard Group Inc. now owns 2,742,740 shares of the mining company’s stock worth $37,247,000 after buying an additional 439,072 shares in the last quarter. TD Asset Management Inc. boosted its stake in shares of 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 in the last quarter. Sprott Inc. boosted its stake in shares of 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 in the last quarter. Finally, Alps Advisors Inc. boosted its stake in shares of First Majestic Silver Corp. by 36.6% in the second quarter. Alps Advisors Inc. now owns 564,488 shares of the mining company’s stock worth $7,666,000 after buying an additional 151,257 shares in the last quarter. 37.20% of the stock is owned by institutional investors.

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.

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