First Majestic Silver Corp. (AG) Given Consensus Rating of “Hold” by Brokerages
Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) have received a consensus recommendation of “Hold” from the twelve research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $12.67.
A number of research analysts have recently weighed in on the company. BidaskClub downgraded First Majestic Silver Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Zacks Investment Research downgraded First Majestic Silver Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Finally, HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of First Majestic Silver Corp. in a research note on Friday, August 4th.
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First Majestic Silver Corp. (NYSE:AG) traded up 4.00% during mid-day trading on Tuesday, hitting $7.28. The stock had a trading volume of 1,316,809 shares. The stock has a 50 day moving average of $7.00 and a 200-day moving average of $7.93. First Majestic Silver Corp. has a 1-year low of $5.92 and a 1-year high of $13.12. The firm has a market cap of $1.21 billion, a P/E ratio of 93.33 and a beta of 0.28.
First Majestic Silver Corp. (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Thursday, August 3rd. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). The firm had revenue of $60.10 million for the quarter, compared to analyst estimates of $77.62 million. First Majestic Silver Corp. had a return on equity of 1.60% and a net margin of 5.11%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS.
Several hedge funds have recently bought and sold shares of AG. Sei Investments Co. lifted its stake in shares of First Majestic Silver Corp. by 1,046.9% in the 2nd quarter. Sei Investments Co. now owns 12,157 shares of the mining company’s stock valued at $101,000 after purchasing an additional 11,097 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in First Majestic Silver Corp. during the 1st quarter worth $102,000. Advisor Group Inc. raised its stake in First Majestic Silver Corp. by 1.6% during the 2nd quarter. Advisor Group Inc. now owns 43,521 shares of the mining company’s stock worth $102,000 after buying an additional 695 shares during the period. Scotia Capital Inc. acquired a new stake in First Majestic Silver Corp. during the 2nd quarter worth $105,000. Finally, Quantbot Technologies LP acquired a new stake in First Majestic Silver Corp. during the 2nd quarter worth $126,000. 29.46% of the stock is currently owned by institutional investors.
About First Majestic Silver Corp.
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.
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