First Majestic Silver (NYSE:AG) Rating Lowered to Buy at Wall Street Zen
by Kim Johansen · The Markets DailyFirst Majestic Silver (NYSE:AG – Get Free Report) (TSE:FR) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.
Other equities research analysts have also issued reports about the stock. HC Wainwright increased their target price on shares of First Majestic Silver to $30.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Scotiabank increased their target price on shares of First Majestic Silver from $12.50 to $23.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. BMO Capital Markets raised shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of First Majestic Silver in a report on Wednesday, January 21st. Finally, Zacks Research lowered shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, First Majestic Silver currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.
View Our Latest Stock Report on First Majestic Silver
First Majestic Silver Trading Up 0.0%
First Majestic Silver stock opened at $21.49 on Friday. The firm has a 50 day moving average of $23.43 and a 200 day moving average of $18.67. The firm has a market capitalization of $10.60 billion, a price-to-earnings ratio of 61.41 and a beta of 0.97. First Majestic Silver has a 12-month low of $5.49 and a 12-month high of $32.03. The company has a current ratio of 2.60, a quick ratio of 2.41 and a debt-to-equity ratio of 0.09.
First Majestic Silver (NYSE:AG – Get Free Report) (TSE:FR) last released its earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. The company had revenue of $463.92 million during the quarter, compared to analyst estimates of $561.30 million. First Majestic Silver had a net margin of 13.12% and a return on equity of 7.25%. The firm’s quarterly revenue was up 169.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS. As a group, research analysts predict that First Majestic Silver will post 0.54 earnings per share for the current year.
Institutional Investors Weigh In On First Majestic Silver
A number of institutional investors have recently added to or reduced their stakes in AG. Royal Bank of Canada grew its holdings in First Majestic Silver by 77.4% during the 1st quarter. Royal Bank of Canada now owns 604,186 shares of the mining company’s stock valued at $4,042,000 after buying an additional 263,688 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in First Majestic Silver by 355.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,193,589 shares of the mining company’s stock valued at $7,985,000 after buying an additional 931,690 shares in the last quarter. Geode Capital Management LLC grew its holdings in First Majestic Silver by 12.4% during the 2nd quarter. Geode Capital Management LLC now owns 240,083 shares of the mining company’s stock valued at $1,994,000 after buying an additional 26,553 shares in the last quarter. Creative Planning grew its holdings in First Majestic Silver by 25.3% during the 2nd quarter. Creative Planning now owns 28,837 shares of the mining company’s stock valued at $238,000 after buying an additional 5,828 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in First Majestic Silver by 12.8% during the 2nd quarter. Franklin Resources Inc. now owns 25,940 shares of the mining company’s stock valued at $215,000 after buying an additional 2,936 shares in the last quarter. 27.16% of the stock is owned by hedge funds and other institutional investors.
About First Majestic Silver
First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.
First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.