First Majestic Silver Corp. (AG) Downgraded by Zacks Investment Research to “Hold”
First Majestic Silver Corp. (NYSE:AG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “First Majestic Silver Corp. is engaged in the production, development, exploration, and acquisition of silver mines in Mexico. First Majestic Silver Corp. is headquartered in Vancouver, Canada. “
Other equities research analysts have also issued reports about the company. TD Securities lowered First Majestic Silver Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. BMO Capital Markets restated a “sell” rating and set a $10.00 price target on shares of First Majestic Silver Corp. in a research report on Thursday, July 14th. Finally, TheStreet lowered First Majestic Silver Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $13.41.
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Shares of First Majestic Silver Corp. (NYSE:AG) traded down 5.37% during midday trading on Tuesday, hitting $7.76. The stock had a trading volume of 6,151,179 shares. The stock has a 50 day moving average price of $11.40 and a 200-day moving average price of $12.17. First Majestic Silver Corp. has a 52 week low of $2.40 and a 52 week high of $19.15. The stock’s market capitalization is $1.27 billion.
First Majestic Silver Corp. (NYSE:AG) last released its quarterly earnings results on Wednesday, August 10th. The mining company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.01. The business had revenue of $66.10 million for the quarter. First Majestic Silver Corp. had a negative return on equity of 0.27% and a negative net margin of 43.62%. First Majestic Silver Corp.’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) EPS. Equities research analysts anticipate that First Majestic Silver Corp. will post $0.18 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Anchor Bolt Capital LP purchased a new position in shares of First Majestic Silver Corp. during the first quarter worth approximately $1,520,000. Hanseatic Management Services Inc. bought a new position in First Majestic Silver Corp. during the second quarter valued at about $623,000. Creative Planning raised its position in First Majestic Silver Corp. by 1.5% in the second quarter. Creative Planning now owns 33,942 shares of the mining company’s stock valued at $461,000 after buying an additional 506 shares in the last quarter. Schroder Investment Management Group bought a new position in First Majestic Silver Corp. during the second quarter valued at about $271,000. Finally, National Planning Corp bought a new position in First Majestic Silver Corp. during the first quarter valued at about $226,000. Hedge funds and other institutional investors own 37.16% of the company’s stock.
First Majestic Silver Corp. Company Profile
First Majestic Silver Corp. (First Majestic) is a mining company. The Company is engaged in the business of silver production, development, exploration, and acquisition of mineral properties with a focus on silver production in Mexico. The Company operates through eight segments: six segments located in Mexico, one retail market segment in Canada and one metal trading segment in Europe.
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