First Majestic Silver (AG) Upgraded to “Buy” by ValuEngine
ValuEngine upgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.
Other equities analysts also recently issued reports about the company. BMO Capital Markets upgraded First Majestic Silver from a market perform rating to an outperform rating in a research note on Monday, August 27th. National Bank Financial restated a sector perform market weight rating on shares of First Majestic Silver in a research note on Monday, August 13th. TD Securities restated a buy rating on shares of First Majestic Silver in a research note on Monday, October 22nd. HC Wainwright set a $9.00 price target on First Majestic Silver and gave the stock a buy rating in a research note on Tuesday, August 14th. Finally, Zacks Investment Research downgraded First Majestic Silver from a hold rating to a sell rating in a research note on Monday, August 13th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $8.75.
AG stock opened at $4.94 on Wednesday. The firm has a market capitalization of $956.71 million, a PE ratio of -123.50 and a beta of 0.18. First Majestic Silver has a 1 year low of $4.59 and a 1 year high of $8.48. The company has a current ratio of 3.38, a quick ratio of 2.85 and a debt-to-equity ratio of 0.20.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AG. Kovack Advisors Inc. bought a new stake in First Majestic Silver during the second quarter valued at about $101,000. Fore Capital LLC bought a new stake in First Majestic Silver during the third quarter valued at about $142,000. Tower Research Capital LLC TRC raised its holdings in First Majestic Silver by 235.2% during the second quarter. Tower Research Capital LLC TRC now owns 20,171 shares of the mining company’s stock valued at $154,000 after acquiring an additional 14,154 shares during the period. BlackRock Inc. raised its holdings in First Majestic Silver by 170.5% during the first quarter. BlackRock Inc. now owns 33,792 shares of the mining company’s stock valued at $206,000 after acquiring an additional 21,301 shares during the period. Finally, AGF Investments Inc. bought a new stake in First Majestic Silver during the second quarter valued at about $239,000. Institutional investors own 25.71% of the company’s stock.
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 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.
See Also: Intrinsic Value
To view ValuEngine’s full report, visit ValuEngine’s official website.
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