First Majestic Silver Corp. (NYSE:AG) (TSE:FR)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a note issued to investors on Friday. They presently have a $14.00 target price on the mining company’s stock. HC Wainwright’s target price would suggest a potential upside of 116.72% from the company’s current price.

A number of other brokerages also recently issued reports on AG. Zacks Investment Research upgraded First Majestic Silver Corp. from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub downgraded First Majestic Silver Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. First Majestic Silver Corp. presently has a consensus rating of “Hold” and an average price target of $10.50.

Shares of First Majestic Silver Corp. (AG) traded down $0.40 during trading hours on Friday, hitting $6.46. The stock had a trading volume of 4,921,016 shares, compared to its average volume of 2,200,850. First Majestic Silver Corp. has a twelve month low of $5.92 and a twelve month high of $10.92. The company has a current ratio of 4.06, a quick ratio of 3.66 and a debt-to-equity ratio of 0.05.

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, August 3rd. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.07). First Majestic Silver Corp. had a net margin of 1.80% and a negative return on equity of 0.23%. The company had revenue of $60.10 million during the quarter, compared to analysts’ expectations of $77.62 million. During the same quarter in the prior year, the business posted $0.03 earnings per share. The company’s revenue was down 9.1% compared to the same quarter last year. equities research analysts forecast that First Majestic Silver Corp. will post 0.04 EPS for the current year.

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A number of hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp grew its stake in First Majestic Silver Corp. by 71.0% during the 2nd quarter. Van ECK Associates Corp now owns 19,593,256 shares of the mining company’s stock worth $162,820,000 after buying an additional 8,137,139 shares during the last quarter. Vanguard Group Inc. grew its stake in First Majestic Silver Corp. by 5.4% during the 2nd quarter. Vanguard Group Inc. now owns 3,346,737 shares of the mining company’s stock worth $27,811,000 after buying an additional 172,004 shares during the last quarter. Global X MANAGEMENT CO LLC grew its stake in First Majestic Silver Corp. by 8.1% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 2,052,117 shares of the mining company’s stock worth $13,980,000 after buying an additional 154,623 shares during the last quarter. TD Asset Management Inc. grew its stake in First Majestic Silver Corp. by 1.0% during the 2nd quarter. TD Asset Management Inc. now owns 1,365,322 shares of the mining company’s stock worth $11,312,000 after buying an additional 14,152 shares during the last quarter. Finally, Alps Advisors Inc. grew its stake in First Majestic Silver Corp. by 93.8% during the 2nd quarter. Alps Advisors Inc. now owns 1,235,506 shares of the mining company’s stock worth $10,267,000 after buying an additional 598,077 shares during the last quarter. Hedge funds and other institutional investors own 29.34% of the company’s stock.

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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