ValuEngine cut shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

A number of other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of First Majestic Silver Corp. from a hold rating to a buy rating and set a $7.75 target price on the stock in a report on Friday, October 20th. Scotiabank lowered their price target on First Majestic Silver Corp. from $11.50 to $9.75 and set a sector perform rating for the company in a research report on Friday, November 3rd. HC Wainwright reaffirmed a buy rating and issued a $14.00 price target on shares of First Majestic Silver Corp. in a research report on Friday, August 4th. Finally, BidaskClub lowered First Majestic Silver Corp. from a hold rating to a sell rating in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $10.50.

Shares of First Majestic Silver Corp. (AG) traded down $0.18 during mid-day trading on Friday, hitting $6.63. 3,005,900 shares of the stock were exchanged, compared to its average volume of 3,974,685. First Majestic Silver Corp. has a 1 year low of $5.92 and a 1 year high of $10.92. The company has a current ratio of 3.77, a quick ratio of 3.38 and a debt-to-equity ratio of 0.04.

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Several institutional investors and hedge funds have recently bought and sold shares of the company. ING Groep NV raised its position in shares of First Majestic Silver Corp. by 60.1% in the 3rd quarter. ING Groep NV now owns 26,420 shares of the mining company’s stock worth $181,000 after purchasing an additional 9,920 shares during the last quarter. Ninepoint Partners LP purchased a new position in First Majestic Silver Corp. in the 3rd quarter worth about $3,787,000. Advisor Group Inc. raised its position in First Majestic Silver Corp. by 29.8% in the 3rd quarter. Advisor Group Inc. now owns 56,481 shares of the mining company’s stock worth $387,000 after buying an additional 12,960 shares during the last quarter. Global X MANAGEMENT CO LLC raised its position in First Majestic Silver Corp. by 8.1% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 2,052,117 shares of the mining company’s stock worth $13,980,000 after buying an additional 154,623 shares during the last quarter. Finally, Intact Investment Management Inc. raised its position in First Majestic Silver Corp. by 10.6% in the 3rd quarter. Intact Investment Management Inc. now owns 521,200 shares of the mining company’s stock worth $4,423,000 after buying an additional 50,000 shares during the last quarter. 29.37% of the stock is owned by hedge funds and other institutional investors.

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.

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