First Majestic Silver (NYSE:AG) (TSE:FR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.
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 research analysts have also recently issued reports on the stock. BMO Capital Markets cut shares of First Majestic Silver from a “market perform” rating to an “underperform” rating in a report on Friday, December 22nd. HC Wainwright reiterated a “buy” rating and set a $14.00 target price on shares of First Majestic Silver in a report on Friday, November 3rd. Scotiabank dropped their target price on shares of First Majestic Silver from $11.50 to $9.75 and set a “sector perform” rating on the stock in a report on Friday, November 3rd. Finally, ValuEngine cut shares of First Majestic Silver from a “hold” rating to a “sell” rating in a report on Friday, November 10th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $10.50.
A number of institutional investors and hedge funds have recently bought and sold shares of AG. Sei Investments Co. grew its stake in shares of First Majestic Silver by 1,046.9% during the 2nd quarter. Sei Investments Co. now owns 12,157 shares of the mining company’s stock worth $101,000 after purchasing an additional 11,097 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of First Majestic Silver during the 1st quarter worth approximately $102,000. Advisor Group Inc. grew its stake in shares of First Majestic Silver 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 purchasing an additional 695 shares during the period. Geneva Advisors LLC grew its stake in shares of First Majestic Silver by 4.1% during the 1st quarter. Geneva Advisors LLC now owns 12,800 shares of the mining company’s stock worth $104,000 after purchasing an additional 500 shares during the period. Finally, Scotia Capital Inc. acquired a new stake in shares of First Majestic Silver during the 2nd quarter worth approximately $105,000. 29.95% of the stock is owned by institutional investors.
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First Majestic Silver 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.
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