First Majestic Silver Corp. (NYSE:AG) (TSE:FR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday.

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. “

Several other equities analysts also recently commented on the stock. BidaskClub downgraded shares of First Majestic Silver Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. HC Wainwright reissued a “buy” rating and issued a $14.00 target price on shares of First Majestic Silver Corp. in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $12.67.

Shares of First Majestic Silver Corp. (NYSE:AG) traded up 2.64% during trading on Wednesday, hitting $7.01. 2,623,077 shares of the stock were exchanged. The firm has a 50 day moving average of $6.89 and a 200-day moving average of $7.79. First Majestic Silver Corp. has a 52-week low of $5.92 and a 52-week high of $11.86. The stock has a market cap of $1.16 billion, a PE ratio of 89.87 and a beta of 0.21.

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, August 3rd. The mining company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). First Majestic Silver Corp. had a return on equity of 1.60% and a net margin of 5.11%. The company had revenue of $60.10 million during the quarter, compared to analysts’ expectations of $77.62 million. During the same period last year, the firm posted $0.03 EPS. First Majestic Silver Corp.’s quarterly revenue was down 9.1% compared to the same quarter last year.

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A number of institutional investors and hedge funds have recently made changes to their positions in AG. Van ECK Associates Corp increased its position in First Majestic Silver Corp. by 71.0% in the second quarter. Van ECK Associates Corp now owns 19,593,256 shares of the mining company’s stock worth $162,820,000 after purchasing an additional 8,137,139 shares during the last quarter. ETF Managers Group LLC bought a new stake in First Majestic Silver Corp. in the second quarter worth $5,591,000. Alps Advisors Inc. increased its position in First Majestic Silver Corp. by 93.8% in the second quarter. Alps Advisors Inc. now owns 1,235,506 shares of the mining company’s stock worth $10,267,000 after purchasing an additional 598,077 shares during the last quarter. Intact Investment Management Inc. increased its position in First Majestic Silver Corp. by 1,664.8% in the second quarter. Intact Investment Management Inc. now owns 471,200 shares of the mining company’s stock worth $5,021,000 after purchasing an additional 444,500 shares during the last quarter. Finally, Morgan Stanley increased its position in First Majestic Silver Corp. by 68.3% in the first quarter. Morgan Stanley now owns 944,449 shares of the mining company’s stock worth $7,668,000 after purchasing an additional 383,398 shares during the last quarter. Institutional investors own 29.35% of the company’s stock.

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

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