First Majestic Silver Corp. (TSE:AG) Receives Average Recommendation of “Buy” from Brokerages

First Majestic Silver Corp. (TSE:AG) has been assigned an average recommendation of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is C$30.40.

Several brokerages have recently weighed in on AG. ATB Cormark Capital Markets raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating and lifted their target price for the company from C$36.00 to C$37.00 in a report on Friday, July 10th. BMO Capital Markets upgraded First Majestic Silver from a “hold” rating to an “outperform” rating and set a C$35.00 target price on the stock in a research report on Tuesday, March 24th. Finally, Scotiabank raised First Majestic Silver to a “hold” rating in a research note on Thursday, April 23rd.

First Majestic Silver Stock Performance

Shares of AG opened at C$23.66 on Thursday. First Majestic Silver has a fifty-two week low of C$10.69 and a fifty-two week high of C$43.69. The firm has a 50-day simple moving average of C$26.16 and a 200-day simple moving average of C$28.86. The company has a market capitalization of C$11.68 billion, a price-to-earnings ratio of 40.10 and a beta of 2.79.

First Majestic Silver (TSE:AG) last issued its quarterly earnings results on Tuesday, May 12th. The company reported C$0.43 earnings per share (EPS) for the quarter. First Majestic Silver had a return on equity of 10.82% and a net margin of 19.45%.The firm had revenue of C$662.71 million for the quarter. Equities research analysts forecast that First Majestic Silver will post 0.4623323 EPS for the current year.

About First Majestic Silver

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.