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

First Majestic Silver (NYSE:AG) (TSE:FR) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Friday.

Other equities research analysts have also recently issued reports about the company. HC Wainwright restated a “buy” rating and set a $12.75 target price on shares of First Majestic Silver in a research note on Friday, August 15th. National Bank Financial upgraded First Majestic Silver to a “hold” rating in a research note on Thursday, June 12th. Weiss Ratings restated a “hold (c-)” rating on shares of First Majestic Silver in a research note on Saturday, September 27th. Finally, Scotiabank upped their target price on First Majestic Silver from $6.00 to $6.50 and gave the stock a “sector perform” rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $9.63.

First Majestic Silver Trading Up 0.4%

Shares of NYSE:AG opened at $12.11 on Friday. The company has a market capitalization of $5.92 billion, a P/E ratio of -1,209.49 and a beta of 0.76. First Majestic Silver has a 1 year low of $5.09 and a 1 year high of $13.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.27 and a quick ratio of 2.84. The business’s 50 day simple moving average is $9.67 and its 200 day simple moving average is $7.99.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, August 14th. The mining company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.The business had revenue of $264.20 million for the quarter, compared to the consensus estimate of $387.25 million. During the same quarter in the previous year, the company earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 94.0% on a year-over-year basis. On average, research analysts anticipate that First Majestic Silver will post 0.54 EPS for the current fiscal year.

Institutional Trading of First Majestic Silver

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC increased its holdings in First Majestic Silver by 1,221.6% in the first quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company’s stock valued at $25,000 after purchasing an additional 3,506 shares during the period. AlphaQuest LLC acquired a new stake in First Majestic Silver in the first quarter valued at $29,000. CWM LLC increased its holdings in First Majestic Silver by 57.2% in the second quarter. CWM LLC now owns 5,114 shares of the mining company’s stock valued at $42,000 after purchasing an additional 1,860 shares during the period. Banque Cantonale Vaudoise acquired a new stake in First Majestic Silver in the first quarter valued at $46,000. Finally, American National Bank & Trust acquired a new stake in First Majestic Silver in the second quarter valued at $66,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.