First Majestic Silver (NYSE:AG) (TSE:FR) has been given a $9.00 price target by stock analysts at HC Wainwright in a report issued on Tuesday. The brokerage currently has a “buy” rating on the mining company’s stock. HC Wainwright’s price objective indicates a potential upside of 44.23% from the stock’s current price.
AG has been the subject of several other reports. ValuEngine upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Wednesday, July 4th. Zacks Investment Research cut shares of First Majestic Silver from a “hold” rating to a “strong sell” rating in a research report on Friday, October 12th. National Bank Financial reiterated a “sector perform market weight” rating on shares of First Majestic Silver in a research report on Monday, August 13th. Finally, BMO Capital Markets upgraded shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a research report on Monday, August 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. First Majestic Silver currently has an average rating of “Buy” and a consensus target price of $8.75.
AG opened at $6.24 on Tuesday. First Majestic Silver has a twelve month low of $4.93 and a twelve month high of $8.48. The company has a quick ratio of 2.74, a current ratio of 3.20 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.10 billion, a PE ratio of -156.00 and a beta of 0.08.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Kovack Advisors Inc. bought a new position in First Majestic Silver during the second quarter worth $101,000. Sei Investments Co. boosted its stake in First Majestic Silver by 99.7% during the first quarter. Sei Investments Co. now owns 17,379 shares of the mining company’s stock worth $106,000 after acquiring an additional 8,675 shares in the last quarter. Fox Run Management L.L.C. bought a new position in First Majestic Silver during the second quarter worth $153,000. Tower Research Capital LLC TRC boosted its stake in First Majestic Silver by 235.2% during the second quarter. Tower Research Capital LLC TRC now owns 20,171 shares of the mining company’s stock worth $154,000 after acquiring an additional 14,154 shares in the last quarter. Finally, AGF Investments Inc. bought a new position in First Majestic Silver during the second quarter worth $239,000. 25.83% of the stock is currently owned by institutional investors and hedge funds.
First Majestic Silver Company Profile
First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.
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