First Majestic Silver (TSE:AG) Trading Up 8.3% – Here’s Why

First Majestic Silver Corp. (TSE:AG)’s share price traded up 8.3% on Thursday . The stock traded as high as C$34.05 and last traded at C$33.55. 625,151 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 2,380,639 shares. The stock had previously closed at C$30.98.

Analysts Set New Price Targets

AG has been the topic of a number of research reports. TD Securities increased their price target on First Majestic Silver from C$22.00 to C$36.00 in a research report on Thursday, January 22nd. Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$30.60.

First Majestic Silver Stock Up 7.8%

The stock’s fifty day moving average price is C$27.62 and its 200-day moving average price is C$20.12. The company has a market capitalization of C$16.37 billion, a price-to-earnings ratio of 238.57 and a beta of 2.10.

First Majestic Silver (TSE:AG) last released its quarterly earnings data on Thursday, February 19th. The company reported C$0.41 earnings per share (EPS) for the quarter. The company had revenue of C$621.00 million during the quarter. First Majestic Silver had a negative return on equity of 5.74% and a negative net margin of 14.81%. Analysts anticipate that First Majestic Silver Corp. will post 0.4623323 EPS for the current year.

First Majestic Silver Company Profile

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.