First Majestic Silver Corp. (NYSE:AG) (TSE:FR) gapped down before the market opened on Friday . The stock had previously closed at $10.47, but opened at $10.26. First Majestic Silver shares last traded at $9.90, with a volume of 4,982,756 shares trading hands.
AG has been the topic of a number of recent research reports. B. Riley set a $6.00 price target on shares of First Majestic Silver and gave the company a “hold” rating in a research report on Wednesday, August 7th. TheStreet upgraded shares of First Majestic Silver from a “d+” rating to a “c-” rating in a research report on Thursday, July 18th. Zacks Investment Research cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, ValuEngine upgraded shares of First Majestic Silver from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $7.69.
The company has a quick ratio of 2.66, a current ratio of 3.13 and a debt-to-equity ratio of 0.24. The stock has a market cap of $2.08 billion, a P/E ratio of -47.14 and a beta of 0.11. The firm’s fifty day moving average price is $9.23 and its 200-day moving average price is $7.09.
Several institutional investors have recently modified their holdings of AG. Nordea Investment Management AB bought a new position in shares of First Majestic Silver in the first quarter worth approximately $27,000. Resources Investment Advisors LLC. grew its holdings in shares of First Majestic Silver by 281.3% in the second quarter. Resources Investment Advisors LLC. now owns 6,100 shares of the mining company’s stock worth $48,000 after purchasing an additional 4,500 shares during the last quarter. CoreCommodity Management LLC bought a new position in shares of First Majestic Silver in the second quarter worth approximately $96,000. Paloma Partners Management Co purchased a new stake in First Majestic Silver in the second quarter worth $96,000. Finally, FNY Investment Advisers LLC purchased a new stake in First Majestic Silver in the second quarter worth $102,000. Hedge funds and other institutional investors own 26.06% of the company’s stock.
About First Majestic Silver (NYSE:AG)
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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