First Majestic Silver Corp. (AG) Short Interest Update
First Majestic Silver Corp. (NYSE:AG) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 11,524,838 shares, a decline of 25.6% from the September 15th total of 15,485,720 shares. Approximately 7.3% of the shares of the company are short sold. Based on an average trading volume of 7,344,108 shares, the days-to-cover ratio is presently 1.6 days.
Institutional investors have recently bought and sold shares of the stock. Anchor Bolt Capital LP acquired a new position in First Majestic Silver Corp. during the first quarter valued at approximately $1,520,000. Hanseatic Management Services Inc. acquired a new position in First Majestic Silver Corp. during the second quarter valued at approximately $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 during the period. Schroder Investment Management Group acquired a new position in First Majestic Silver Corp. during the second quarter valued at approximately $271,000. Finally, National Planning Corp acquired a new position in First Majestic Silver Corp. during the first quarter valued at approximately $226,000. 37.20% of the stock is currently owned by hedge funds and other institutional investors.
First Majestic Silver Corp. (NYSE:AG) opened at 7.85 on Tuesday. First Majestic Silver Corp. has a 52 week low of $2.40 and a 52 week high of $19.15. The company has a 50 day moving average price of $10.76 and a 200 day moving average price of $12.20. The stock’s market cap is $1.29 billion.
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First Majestic Silver Corp. (NYSE:AG) last posted its earnings results on Wednesday, August 10th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by $0.01. The business earned $66.10 million during the quarter. First Majestic Silver Corp. had a negative net margin of 43.62% and a negative return on equity of 0.27%. 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 earned ($0.03) earnings per share. Analysts expect that First Majestic Silver Corp. will post $0.18 EPS for the current fiscal year.
A number of analysts have commented on AG shares. Zacks Investment Research raised First Majestic Silver Corp. from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Tuesday, July 19th. TheStreet lowered First Majestic Silver Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. BMO Capital Markets reiterated a “sell” rating and set a $10.00 price objective on shares of First Majestic Silver Corp. in a research note on Thursday, July 14th. Finally, TD Securities lowered First Majestic Silver Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. First Majestic Silver Corp. has an average rating of “Hold” and a consensus target price of $15.44.
About First Majestic Silver Corp.
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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