First Majestic Silver (NYSE:AG) (TSE:FR) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Monday.

Several other equities research analysts have also recently weighed in on the stock. BMO Capital Markets raised shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a research report on Monday, August 27th. TD Securities reaffirmed a “buy” rating on shares of First Majestic Silver in a research report on Monday, October 22nd. Zacks Investment Research cut shares of First Majestic Silver from a “hold” rating to a “strong sell” rating in a research report on Friday, October 12th. HC Wainwright cut their price objective on shares of First Majestic Silver from $11.50 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, July 17th. Finally, Roth Capital set a $8.00 price objective on shares of First Majestic Silver and gave the stock a “buy” rating in a research report on Tuesday, October 16th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. First Majestic Silver presently has an average rating of “Buy” and a consensus price target of $8.75.

Shares of First Majestic Silver stock opened at $4.87 on Monday. First Majestic Silver has a 52-week low of $4.75 and a 52-week high of $8.48. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.38 and a quick ratio of 2.85. The stock has a market capitalization of $1.05 billion, a PE ratio of -121.75 and a beta of 0.15.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Wednesday, November 7th. The mining company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. First Majestic Silver had a negative net margin of 33.27% and a negative return on equity of 5.13%. The business had revenue of $88.50 million during the quarter, compared to analysts’ expectations of $126.56 million. The company’s quarterly revenue was up 43.0% compared to the same quarter last year. As a group, analysts anticipate that First Majestic Silver will post -0.16 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Kovack Advisors Inc. acquired a new position in First Majestic Silver during the second quarter worth about $101,000. Fox Run Management L.L.C. acquired a new position in First Majestic Silver during the second quarter worth about $153,000. Tower Research Capital LLC TRC raised its stake in First Majestic Silver by 235.2% during the second quarter. Tower Research Capital LLC TRC now owns 20,171 shares of the mining company’s stock worth $154,000 after acquiring an additional 14,154 shares in the last quarter. AGF Investments Inc. acquired a new position in First Majestic Silver during the second quarter worth about $239,000. Finally, Trexquant Investment LP acquired a new position in First Majestic Silver during the second quarter worth about $248,000. 25.71% of the stock is owned by hedge funds and other institutional investors.

First Majestic Silver Company Profile

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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Analyst Recommendations for First Majestic Silver (NYSE:AG)

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