First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has been given a consensus rating of “Buy” by the nine analysts that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $9.23.
Several research analysts have recently commented on the company. TheStreet upgraded First Majestic Silver from a “d+” rating to a “c-” rating in a report on Thursday, July 18th. B. Riley lifted their price target on First Majestic Silver from $5.95 to $8.20 and gave the stock a “neutral” rating in a report on Monday. Zacks Investment Research lowered First Majestic Silver from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. ValuEngine upgraded First Majestic Silver from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 17th. Finally, HC Wainwright boosted their price objective on shares of First Majestic Silver from $8.00 to $11.50 and gave the company a “buy” rating in a report on Monday, August 19th.
AG stock traded down $0.18 during midday trading on Friday, reaching $9.78. The stock had a trading volume of 5,451,100 shares, compared to its average volume of 3,862,261. The company’s fifty day simple moving average is $10.35 and its 200 day simple moving average is $7.65. The company has a current ratio of 3.13, a quick ratio of 2.66 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -46.57 and a beta of 0.08. First Majestic Silver has a 52-week low of $4.59 and a 52-week high of $11.62.
Several institutional investors have recently made changes to their positions in AG. Commerzbank Aktiengesellschaft FI grew its position in shares of First Majestic Silver by 24.4% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,824,842 shares of the mining company’s stock worth $22,345,000 after buying an additional 554,438 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in shares of First Majestic Silver during the first quarter worth about $2,621,000. Bank of Montreal Can grew its position in shares of First Majestic Silver by 66.2% during the first quarter. Bank of Montreal Can now owns 671,560 shares of the mining company’s stock worth $4,419,000 after buying an additional 267,372 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in First Majestic Silver in the second quarter valued at approximately $1,766,000. Finally, Morgan Stanley boosted its holdings in First Majestic Silver by 3.8% in the second quarter. Morgan Stanley now owns 5,280,691 shares of the mining company’s stock valued at $41,770,000 after purchasing an additional 191,881 shares in the last quarter. 27.22% of the stock is owned by institutional investors and hedge funds.
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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