First Majestic Silver (NYSE:AG) Receives Buy Rating from HC Wainwright

First Majestic Silver (NYSE:AG) (TSE:FR)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a report released on Friday,Benzinga reports. They currently have a $11.00 price objective on the mining company’s stock. HC Wainwright’s price objective points to a potential upside of 84.25% from the stock’s previous close.

First Majestic Silver Stock Up 1.5 %

Shares of NYSE:AG opened at $5.97 on Friday. The company has a 50 day moving average of $6.12 and a 200-day moving average of $6.10. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.03 and a quick ratio of 2.45. First Majestic Silver has a one year low of $4.17 and a one year high of $8.44. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -22.11 and a beta of 1.25.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, November 7th. The mining company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. The firm had revenue of $146.09 million during the quarter. On average, sell-side analysts forecast that First Majestic Silver will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AG. Synovus Financial Corp bought a new position in shares of First Majestic Silver during the third quarter valued at $452,000. Tidal Investments LLC boosted its position in shares of First Majestic Silver by 1.8% during the 3rd quarter. Tidal Investments LLC now owns 5,780,689 shares of the mining company’s stock worth $34,684,000 after purchasing an additional 99,640 shares in the last quarter. Virtu Financial LLC grew its stake in shares of First Majestic Silver by 95.9% in the 3rd quarter. Virtu Financial LLC now owns 136,356 shares of the mining company’s stock valued at $818,000 after buying an additional 66,750 shares during the period. Toronto Dominion Bank increased its position in First Majestic Silver by 6.7% in the 3rd quarter. Toronto Dominion Bank now owns 29,404 shares of the mining company’s stock valued at $176,000 after buying an additional 1,855 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in First Majestic Silver by 9.8% during the 3rd quarter. Geode Capital Management LLC now owns 136,901 shares of the mining company’s stock worth $825,000 after buying an additional 12,171 shares during the period. 27.16% 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 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.