B. Riley Raises First Majestic Silver (NYSE:AG) Price Target to $8.20
First Majestic Silver (NYSE:AG) (TSE:FR) had its price objective upped by B. Riley from $5.95 to $8.20 in a research report released on Monday morning, BenzingaRatingsTable reports. B. Riley currently has a neutral rating on the mining company’s stock.
Several other brokerages have also weighed in on AG. Zacks Investment Research lowered First Majestic Silver from a buy rating to a hold rating in a research note on Tuesday, July 23rd. ValuEngine upgraded First Majestic Silver from a buy rating to a strong-buy rating in a research note on Wednesday, July 17th. TheStreet upgraded First Majestic Silver from a d+ rating to a c- rating in a research note on Thursday, July 18th. Finally, HC Wainwright lifted their price target on First Majestic Silver from $8.00 to $11.50 and gave the company a buy rating in a research note on Monday, August 19th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $9.11.
Shares of First Majestic Silver stock opened at $9.96 on Monday. The company has a quick ratio of 2.66, a current ratio of 3.13 and a debt-to-equity ratio of 0.24. First Majestic Silver has a twelve month low of $4.59 and a twelve month high of $11.62. The business has a 50-day moving average price of $10.35 and a 200 day moving average price of $7.65. The firm has a market cap of $1.98 billion, a PE ratio of -47.43 and a beta of 0.08.
Hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. boosted its holdings in First Majestic Silver by 6.9% in the 2nd quarter. Alps Advisors Inc. now owns 985,028 shares of the mining company’s stock worth $7,792,000 after buying an additional 63,895 shares during the last quarter. Advisor Group Inc. boosted its holdings in First Majestic Silver by 24.5% in the 2nd quarter. Advisor Group Inc. now owns 86,505 shares of the mining company’s stock worth $684,000 after buying an additional 17,007 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in First Majestic Silver in the 2nd quarter worth about $1,120,000. Toronto Dominion Bank boosted its holdings in First Majestic Silver by 64.8% in the 1st quarter. Toronto Dominion Bank now owns 146,122 shares of the mining company’s stock worth $963,000 after buying an additional 57,451 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in First Majestic Silver by 0.5% in the 2nd quarter. CIBC Asset Management Inc now owns 406,238 shares of the mining company’s stock worth $3,208,000 after buying an additional 2,003 shares during the last quarter. Institutional investors own 27.22% of the company’s stock.
About First Majestic Silver
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.
Read More: Fibonacci Channel
Receive News & Ratings for First Majestic Silver Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Majestic Silver and related companies with MarketBeat.com's FREE daily email newsletter.