Zacks Investment Research upgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) from a hold rating to a strong-buy rating in a research note published on Tuesday morning. They currently have $7.75 price objective on the mining company’s stock.

According to Zacks, “First Majestic Silver Corp. is engaged in the production, development, exploration, and acquisition of silver mines in Mexico. First Majestic Silver Corp. is headquartered in Vancouver, Canada. “

Several other analysts also recently weighed in on the company. ValuEngine downgraded First Majestic Silver from a hold rating to a sell rating in a research note on Friday, November 10th. BMO Capital Markets downgraded First Majestic Silver from a market perform rating to an underperform rating in a research note on Saturday, December 30th. HC Wainwright reaffirmed a buy rating and set a $14.00 target price on shares of First Majestic Silver in a research note on Friday, December 22nd. Finally, Scotiabank cut their target price on First Majestic Silver from $11.50 to $9.75 and set a sector perform rating on the stock in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $10.50.

First Majestic Silver (AG) opened at $7.05 on Tuesday. First Majestic Silver has a 12-month low of $5.92 and a 12-month high of $10.92. The stock has a market capitalization of $1,166.50, a P/E ratio of 235.08 and a beta of 0.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.38 and a current ratio of 3.77.

Institutional investors have recently made changes to their positions in the business. Advisor Group Inc. raised its stake in shares of First Majestic Silver by 1.6% in the 2nd quarter. Advisor Group Inc. now owns 43,521 shares of the mining company’s stock worth $102,000 after buying an additional 695 shares in the last quarter. Legal & General Group Plc raised its stake in shares of First Majestic Silver by 4.0% in the 2nd quarter. Legal & General Group Plc now owns 28,252 shares of the mining company’s stock worth $234,000 after buying an additional 1,089 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of First Majestic Silver by 18.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,536 shares of the mining company’s stock worth $129,000 after buying an additional 2,408 shares in the last quarter. Swiss National Bank raised its stake in shares of First Majestic Silver by 2.2% in the 2nd quarter. Swiss National Bank now owns 275,600 shares of the mining company’s stock worth $2,287,000 after buying an additional 6,000 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of First Majestic Silver by 17.6% in the 2nd quarter. Royal Bank of Canada now owns 41,810 shares of the mining company’s stock worth $347,000 after buying an additional 6,261 shares in the last quarter. 29.95% of the stock is currently owned by hedge funds and other institutional investors.

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About First Majestic Silver

First Majestic Silver Corp. is a mining company. The Company is focused on silver production in Mexico and it is pursuing the development of its existing mineral property assets. The Company operates through eight segments, six of which are located in Mexico; one retail market segment in Canada, and one metal trading segment in Europe.

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