First Majestic Silver Corp (NYSE:AG) (TSE:FR) shares gapped up before the market opened on Wednesday . The stock had previously closed at $7.71, but opened at $7.35. First Majestic Silver shares last traded at $7.39, with a volume of 2331085 shares.

Several research firms recently issued reports on AG. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of First Majestic Silver in a report on Tuesday. Zacks Investment Research cut shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 3rd. BMO Capital Markets cut shares of First Majestic Silver from a “market perform” rating to an “underperform” rating in a report on Saturday, December 30th. ValuEngine raised shares of First Majestic Silver from a “sell” rating to a “hold” rating in a report on Thursday, December 14th. Finally, Scotiabank cut their price target on shares of First Majestic Silver from $11.50 to $9.75 and set a “sector perform” rating for the company in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $10.50.

The company has a debt-to-equity ratio of 0.04, a current ratio of 3.77 and a quick ratio of 3.38. The company has a market cap of $1,220.00, a PE ratio of 241.33 and a beta of 0.20.

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of Nova Scotia grew its position in First Majestic Silver by 89.9% during the second quarter. Bank of Nova Scotia now owns 49,792 shares of the mining company’s stock worth $413,000 after buying an additional 23,566 shares during the period. Ninepoint Partners LP acquired a new position in First Majestic Silver during the third quarter worth about $3,787,000. Commerzbank Aktiengesellschaft FI grew its position in First Majestic Silver by 513.6% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 2,109,456 shares of the mining company’s stock worth $14,429,000 after buying an additional 1,765,678 shares during the period. Vanguard Group Inc. grew its position in First Majestic Silver by 5.4% during the second quarter. Vanguard Group Inc. now owns 3,346,737 shares of the mining company’s stock worth $27,811,000 after buying an additional 172,004 shares during the period. Finally, Intact Investment Management Inc. grew its position in First Majestic Silver by 10.6% during the third 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 period. Institutional investors own 29.95% of the company’s stock.

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About First Majestic Silver

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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