First Majestic Silver (AG) Downgraded to Sell at ValuEngine

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

Several other equities research analysts also recently weighed in on AG. Roth Capital started coverage on First Majestic Silver in a research report on Wednesday, April 25th. They issued a “buy” rating and a $9.00 target price for the company. BMO Capital Markets raised First Majestic Silver from an “underperform” rating to a “market perform” rating in a research report on Monday, May 14th. TD Securities raised First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Tuesday, May 15th. Scotiabank upped their target price on First Majestic Silver from $8.00 to $8.75 and gave the stock a “sector perform” rating in a research report on Friday, May 18th. Finally, Zacks Investment Research raised First Majestic Silver from a “hold” rating to a “buy” rating and set a $9.25 target price for the company in a research report on Tuesday, July 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. First Majestic Silver currently has a consensus rating of “Hold” and a consensus price target of $9.00.

AG stock opened at $5.62 on Monday. First Majestic Silver has a 12-month low of $4.93 and a 12-month high of $8.48. The company has a quick ratio of 4.15, a current ratio of 4.41 and a debt-to-equity ratio of 0.21. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -140.25 and a beta of 0.01.



First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Monday, August 13th. The mining company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.05). First Majestic Silver had a negative return on equity of 3.27% and a negative net margin of 25.47%. The company had revenue of $79.70 million during the quarter, compared to analysts’ expectations of $111.49 million. During the same period in the previous year, the company earned ($0.01) EPS. First Majestic Silver’s quarterly revenue was up 32.6% on a year-over-year basis. research analysts anticipate that First Majestic Silver will post -0.02 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in AG. Van ECK Associates Corp lifted its stake in shares of First Majestic Silver by 17.0% in the second quarter. Van ECK Associates Corp now owns 23,913,609 shares of the mining company’s stock worth $182,461,000 after acquiring an additional 3,471,408 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of First Majestic Silver by 121.7% in the second quarter. CIBC Asset Management Inc now owns 516,348 shares of the mining company’s stock worth $3,940,000 after acquiring an additional 283,464 shares in the last quarter. Capital Fund Management S.A. acquired a new position in shares of First Majestic Silver in the second quarter worth about $1,920,000. Global X Management Co. LLC lifted its stake in shares of First Majestic Silver by 7.0% in the first quarter. Global X Management Co. LLC now owns 2,337,796 shares of the mining company’s stock worth $14,307,000 after acquiring an additional 153,696 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of First Majestic Silver by 264.7% in the first quarter. BNP Paribas Arbitrage SA now owns 148,379 shares of the mining company’s stock worth $907,000 after acquiring an additional 107,698 shares in the last quarter. Institutional investors and hedge funds own 24.04% of the company’s stock.

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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