Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) have been assigned an average recommendation of “Hold” from the twelve research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $12.67.

A number of research firms have recently commented on AG. Scotiabank restated a “sector perform” rating and issued a $13.00 price target on shares of First Majestic Silver Corp. in a report on Friday, April 21st. BidaskClub raised shares of First Majestic Silver Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Zacks Investment Research raised shares of First Majestic Silver Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of First Majestic Silver Corp. in a research note on Friday, August 4th. Finally, National Bank Financial reaffirmed an “outperform market weight” rating on shares of First Majestic Silver Corp. in a research note on Friday, May 5th.

First Majestic Silver Corp. (AG) traded down 2.60% during midday trading on Friday, hitting $6.38. 2,682,899 shares of the stock traded hands. First Majestic Silver Corp. has a 52-week low of $5.92 and a 52-week high of $15.74. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 81.79 and a beta of 0.30. The firm’s 50-day moving average is $7.42 and its 200-day moving average is $8.32.

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Thursday, August 3rd. The mining company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.07. The company had revenue of $60.10 million during the quarter, compared to the consensus estimate of $77.62 million. First Majestic Silver Corp. had a return on equity of 1.60% and a net margin of 5.11%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 earnings per share. Analysts predict that First Majestic Silver Corp. will post $0.02 EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in AG. Scotia Capital Inc. acquired a new stake in First Majestic Silver Corp. during the second quarter worth $105,000. Bank of Nova Scotia raised its stake in First Majestic Silver Corp. by 89.9% in the second quarter. Bank of Nova Scotia now owns 49,792 shares of the mining company’s stock worth $413,000 after buying an additional 23,566 shares during the period. ETF Managers Group LLC acquired a new stake in First Majestic Silver Corp. during the second quarter worth $5,591,000. San Francisco Sentry Investment Group CA raised its stake in First Majestic Silver Corp. by 26.2% in the second quarter. San Francisco Sentry Investment Group CA now owns 45,860 shares of the mining company’s stock worth $381,000 after buying an additional 9,520 shares during the period. Finally, Royal Bank of Canada raised its stake in First Majestic Silver Corp. by 17.6% in the second quarter. Royal Bank of Canada now owns 41,810 shares of the mining company’s stock worth $347,000 after buying an additional 6,261 shares during the period. 26.81% of the stock is owned by institutional investors.

First Majestic Silver Corp. Company Profile

First Majestic Silver Corp. is a mining company. The Company is focused on silver production in Mexico and it is pursuing the development of its existing mineral property assets. The Company operates through eight segments, six of which are located in Mexico; one retail market segment in Canada, and one metal trading segment in Europe.

Analyst Recommendations for First Majestic Silver Corp. (NYSE:AG)

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