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.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Wednesday, August 7th. The mining company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.01). First Majestic Silver had a negative net margin of 50.33% and a negative return on equity of 3.57%. The business had revenue of $83.67 million during the quarter, compared to analysts’ expectations of $87.77 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. On average, sell-side analysts expect that First Majestic Silver will post 0.04 EPS for the current year.

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.

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Analyst Recommendations for First Majestic Silver (NYSE:AG)

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