Zacks Investment Research upgraded shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) from a strong sell rating to a hold rating in a research report report published on Wednesday morning.

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 the company. BidaskClub downgraded First Majestic Silver Corp. from a hold rating to a sell rating in a research report on Tuesday, June 20th. HC Wainwright reaffirmed a buy rating and issued a $14.00 price objective on shares of First Majestic Silver Corp. in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $12.67.

First Majestic Silver Corp. (AG) opened at 7.35 on Wednesday. The company has a market cap of $1.22 billion, a PE ratio of 94.23 and a beta of 0.21. The stock has a 50 day moving average of $6.95 and a 200 day moving average of $7.77. First Majestic Silver Corp. has a one year low of $5.92 and a one year high of $10.92.

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Thursday, August 3rd. The mining company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.07). First Majestic Silver Corp. had a net margin of 5.11% and a return on equity of 1.60%. The company had revenue of $60.10 million for the quarter, compared to analysts’ expectations of $77.62 million. During the same quarter in the previous year, the company posted $0.03 EPS. The business’s quarterly revenue was down 9.1% on a year-over-year basis.

COPYRIGHT VIOLATION NOTICE: “First Majestic Silver Corp. (AG) Rating Increased to Hold at Zacks Investment Research” was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another domain, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/10/08/first-majestic-silver-corp-ag-rating-increased-to-hold-at-zacks-investment-research.html.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. lifted its stake in shares of First Majestic Silver Corp. by 1,046.9% during the 2nd quarter. Sei Investments Co. now owns 12,157 shares of the mining company’s stock worth $101,000 after purchasing an additional 11,097 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of First Majestic Silver Corp. during the 1st quarter worth $102,000. Advisor Group Inc. lifted its stake in shares of First Majestic Silver Corp. by 1.6% during the 2nd quarter. Advisor Group Inc. now owns 43,521 shares of the mining company’s stock worth $102,000 after purchasing an additional 695 shares during the last quarter. Scotia Capital Inc. purchased a new stake in shares of First Majestic Silver Corp. during the 2nd quarter worth $105,000. Finally, Quantbot Technologies LP purchased a new stake in shares of First Majestic Silver Corp. during the 2nd quarter worth $126,000. Hedge funds and other institutional investors own 29.35% of the company’s stock.

First Majestic Silver Corp. Company Profile

First Majestic Silver Corp. is a mining company. The Company is focused on silver production in Mexico and it is pursuing the development of its existing mineral property assets. The Company operates through eight segments, six of which are located in Mexico; one retail market segment in Canada, and one metal trading segment in Europe.

Get a free copy of the Zacks research report on First Majestic Silver Corp. (AG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Stock Ratings for First Majestic Silver Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Majestic Silver Corp. and related stocks with our FREE daily email newsletter.