First Majestic Silver (FR) Receives Average Rating of “Hold” from Brokerages
First Majestic Silver (TSE:FR) (NYSE:AG) has been given an average rating of “Buy” by the six ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$11.50.
A number of equities research analysts have commented on the company. National Bank Financial increased their price target on First Majestic Silver from C$9.75 to C$11.50 in a research note on Saturday, July 14th. Roth Capital reiterated a “buy” rating on shares of First Majestic Silver in a research note on Wednesday, April 25th. Cormark decreased their price target on First Majestic Silver from C$14.00 to C$13.00 and set a “c$9.03” rating for the company in a research note on Wednesday. Finally, TD Securities upgraded First Majestic Silver from a “hold” rating to a “buy” rating and increased their price target for the company from C$11.00 to C$14.00 in a research note on Tuesday, May 15th.
In other First Majestic Silver news, Director Robert A. Mccallum sold 5,000 shares of the stock in a transaction dated Tuesday, July 17th. The stock was sold at an average price of C$9.09, for a total value of C$45,450.00. Also, insider Adam Mceniry sold 4,300 shares of the firm’s stock in a transaction dated Monday, June 25th. The stock was sold at an average price of C$10.17, for a total value of C$43,731.00. Over the last quarter, insiders sold 180,900 shares of company stock valued at $1,810,647.
First Majestic Silver (TSE:FR) (NYSE:AG) last issued its quarterly earnings data on Wednesday, May 9th. The mining company reported C($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.03) by C($0.05). The company had revenue of C$74.07 million for the quarter, compared to analysts’ expectations of C$81.65 million. First Majestic Silver had a negative return on equity of 36.93% and a negative net margin of 91.69%.
About First Majestic Silver
First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.
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