First Majestic Silver (NYSE:AG) Lowered to “Hold” Rating by Wall Street Zen

First Majestic Silver (NYSE:AG) (TSE:FR) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also recently commented on AG. Weiss Ratings cut shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. ATB Cormark Capital Markets raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, July 10th. Zacks Research lowered shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Scotiabank cut their price objective on shares of First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Finally, HC Wainwright lowered their target price on shares of First Majestic Silver from $30.75 to $26.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

First Majestic Silver Stock Performance

NYSE AG opened at $16.30 on Friday. The firm has a market capitalization of $8.04 billion, a P/E ratio of 27.18 and a beta of 0.91. The stock has a 50-day simple moving average of $17.85 and a two-hundred day simple moving average of $20.86. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.54 and a current ratio of 2.73. First Majestic Silver has a fifty-two week low of $7.74 and a fifty-two week high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Tuesday, May 12th. The mining company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). The company had revenue of $476.67 million during the quarter, compared to analysts’ expectations of $522.00 million. First Majestic Silver had a return on equity of 11.19% and a net margin of 19.51%.The firm’s quarterly revenue was up 95.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 EPS. On average, equities analysts forecast that First Majestic Silver will post 0.8 earnings per share for the current year.

Institutional Investors Weigh In On First Majestic Silver

Several institutional investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL lifted its position in shares of First Majestic Silver by 891.5% in the third quarter. Tudor Investment Corp ET AL now owns 244,740 shares of the mining company’s stock valued at $3,008,000 after acquiring an additional 220,056 shares in the last quarter. Vanguard Group Inc. increased its position in shares of First Majestic Silver by 5.2% during the fourth quarter. Vanguard Group Inc. now owns 18,995,222 shares of the mining company’s stock worth $316,914,000 after purchasing an additional 945,067 shares in the last quarter. PKO Investment Management Joint Stock Co raised its stake in First Majestic Silver by 50.5% in the 4th quarter. PKO Investment Management Joint Stock Co now owns 238,500 shares of the mining company’s stock valued at $3,986,000 after purchasing an additional 80,000 shares during the last quarter. SG Americas Securities LLC lifted its holdings in First Majestic Silver by 194.6% in the 4th quarter. SG Americas Securities LLC now owns 131,267 shares of the mining company’s stock valued at $2,187,000 after purchasing an additional 86,715 shares in the last quarter. Finally, Artemis Investment Management LLP purchased a new position in First Majestic Silver in the 4th quarter valued at $45,898,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

First Majestic Silver Company Profile

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.