First Majestic Silver (NYSE:AG) (TSE:FR) has received an average recommendation of “Hold” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $9.92.
Several research firms have weighed in on AG. BMO Capital Markets raised First Majestic Silver from an “underperform” rating to a “market perform” rating in a research report on Monday, May 14th. Scotiabank boosted their price objective on First Majestic Silver from $8.00 to $8.75 and gave the stock a “sector perform” rating in a research report on Friday, May 18th. TD Securities raised First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Tuesday, May 15th. Roth Capital began coverage on First Majestic Silver in a research report on Wednesday, April 25th. They issued a “buy” rating and a $9.00 price objective on the stock. Finally, ValuEngine raised First Majestic Silver from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd.
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A number of hedge funds have recently bought and sold shares of AG. Sei Investments Co. lifted its position in shares of First Majestic Silver by 99.7% during the 1st quarter. Sei Investments Co. now owns 17,379 shares of the mining company’s stock valued at $106,000 after buying an additional 8,675 shares during the last quarter. Seven Eight Capital LP purchased a new position in shares of First Majestic Silver during the 1st quarter valued at $137,000. BlackRock Inc. lifted its position in shares of First Majestic Silver by 170.5% during the 1st quarter. BlackRock Inc. now owns 33,792 shares of the mining company’s stock valued at $206,000 after buying an additional 21,301 shares during the last quarter. Two Sigma Securities LLC purchased a new position in shares of First Majestic Silver during the 4th quarter valued at $215,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of First Majestic Silver by 170.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,852 shares of the mining company’s stock valued at $215,000 after buying an additional 20,064 shares during the last quarter. 27.99% of the stock is currently owned by institutional investors and hedge funds.
First Majestic Silver traded down $0.16, hitting $7.20, during trading on Friday, Marketbeat Ratings reports. 1,977,713 shares of the company were exchanged, compared to its average volume of 2,638,448. First Majestic Silver has a 52 week low of $4.93 and a 52 week high of $8.95. The company has a market capitalization of $1.19 billion, a P/E ratio of -180.00 and a beta of 0.24. The company has a current ratio of 4.41, a quick ratio of 4.15 and a debt-to-equity ratio of 0.21.
First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Wednesday, May 9th. The mining company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.04). First Majestic Silver had a negative return on equity of 3.27% and a negative net margin of 25.47%. The company had revenue of $58.59 million for the quarter, compared to the consensus estimate of $63.79 million. analysts predict that First Majestic Silver will post 0.04 EPS for the current year.
First Majestic Silver declared that its board has authorized a stock buyback program on Monday, March 19th that allows the company to repurchase 8,290,000 outstanding shares. This repurchase authorization allows the mining company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
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 M茅xico State.