Zacks Investment Research Lowers First Majestic Silver (AG) to Hold

Zacks Investment Research downgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) from a strong-buy rating to a hold rating in a report issued on Wednesday.

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 brokerages also recently weighed in on AG. HC Wainwright reaffirmed a buy rating and issued a $14.00 target price on shares of First Majestic Silver in a research report on Friday, December 22nd. BMO Capital Markets downgraded First Majestic Silver from a market perform rating to an underperform rating in a research report on Friday, December 22nd. ValuEngine raised First Majestic Silver from a sell rating to a hold rating in a research report on Thursday, December 14th. Finally, Scotiabank decreased their target price on First Majestic Silver from $11.50 to $9.75 and set a sector perform rating for the company in a research report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $10.50.

Shares of First Majestic Silver (NYSE AG) opened at $6.96 on Wednesday. First Majestic Silver has a 12 month low of $5.92 and a 12 month high of $10.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.38 and a current ratio of 3.77. The company has a market capitalization of $1,170.00, a PE ratio of 232.00 and a beta of 0.20.

A number of institutional investors and hedge funds have recently modified their holdings of AG. Sei Investments Co. boosted its holdings in First Majestic Silver by 1,046.9% in the second quarter. Sei Investments Co. now owns 12,157 shares of the mining company’s stock valued at $101,000 after purchasing an additional 11,097 shares during the last quarter. Legal & General Group Plc boosted its holdings in First Majestic Silver by 4.0% in the second 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 last quarter. Airain ltd purchased a new position in First Majestic Silver in the second quarter valued at about $515,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in First Majestic Silver by 18.3% in the second 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 last quarter. Finally, Swiss National Bank boosted its holdings in First Majestic Silver by 2.2% in the second quarter. Swiss National Bank now owns 275,600 shares of the mining company’s stock valued at $2,287,000 after purchasing an additional 6,000 shares during the last quarter. 29.95% of the stock is owned by hedge funds and other 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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