First Majestic Silver Corp. (AG) Cut to “Sell” at ValuEngine

ValuEngine lowered shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) from a hold rating to a sell rating in a research report released on Friday morning.

Several other research firms also recently issued reports on AG. HC Wainwright restated a buy rating and set a $14.00 price objective on shares of First Majestic Silver Corp. in a report on Friday, August 4th. Zacks Investment Research upgraded First Majestic Silver Corp. from a strong sell rating to a hold rating in a report on Wednesday, October 4th. Scotiabank cut their price objective on First Majestic Silver Corp. from $11.50 to $9.75 and set a sector perform rating on the stock in a report on Friday, November 3rd. Finally, BidaskClub downgraded First Majestic Silver Corp. from a hold rating to a sell rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. First Majestic Silver Corp. has an average rating of Hold and an average price target of $10.50.

Shares of First Majestic Silver Corp. (NYSE:AG) opened at $6.63 on Friday. The company has a quick ratio of 3.38, a current ratio of 3.77 and a debt-to-equity ratio of 0.04. First Majestic Silver Corp. has a twelve month low of $5.92 and a twelve month high of $10.92.

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Several institutional investors and hedge funds have recently modified their holdings of the company. Advisor Group Inc. increased its holdings in shares of First Majestic Silver Corp. by 1.6% in the 2nd quarter. Advisor Group Inc. now owns 43,521 shares of the mining company’s stock valued at $102,000 after purchasing an additional 695 shares during the period. Legal & General Group Plc increased its holdings in shares of First Majestic Silver Corp. by 4.0% in the 2nd quarter. Legal & General Group Plc now owns 28,252 shares of the mining company’s stock valued at $234,000 after purchasing an additional 1,089 shares during the period. Aperio Group LLC increased its holdings in shares of First Majestic Silver Corp. by 1.9% in the 2nd quarter. Aperio Group LLC now owns 99,218 shares of the mining company’s stock valued at $825,000 after purchasing an additional 1,873 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of First Majestic Silver Corp. by 18.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,536 shares of the mining company’s stock valued at $129,000 after purchasing an additional 2,408 shares during the period. Finally, National Planning Corp increased its holdings in shares of First Majestic Silver Corp. by 5.4% in the 2nd quarter. National Planning Corp now owns 46,914 shares of the mining company’s stock valued at $360,000 after purchasing an additional 2,409 shares during the period. Institutional investors own 29.38% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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