First Majestic Silver Corp. (NYSE:AG) (TSE:FR) had its price objective lowered by analysts at Scotiabank from $11.50 to $9.75 in a report released on Friday. The brokerage currently has a “sector perform” rating on the mining company’s stock. Scotiabank’s target price points to a potential upside of 43.81% from the company’s previous close.

A number of other brokerages have also commented on AG. Zacks Investment Research upgraded shares of First Majestic Silver Corp. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 4th. HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of First Majestic Silver Corp. in a research note on Friday, August 4th. Finally, BidaskClub lowered shares of First Majestic Silver Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $10.50.

Shares of First Majestic Silver Corp. (AG) traded up $0.32 during trading on Friday, reaching $6.78. 1,328,830 shares of the company’s stock traded hands, compared to its average volume of 2,260,749. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.77 and a quick ratio of 3.38. First Majestic Silver Corp. has a twelve month low of $5.92 and a twelve month high of $10.92.

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, August 3rd. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). The firm had revenue of $60.10 million during the quarter, compared to analysts’ expectations of $77.62 million. First Majestic Silver Corp. had a negative return on equity of 0.23% and a net margin of 1.80%. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.03 earnings per share. research analysts predict that First Majestic Silver Corp. will post 0.04 EPS for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in AG. Van ECK Associates Corp grew its position in First Majestic Silver Corp. by 71.0% during the second quarter. Van ECK Associates Corp now owns 19,593,256 shares of the mining company’s stock valued at $162,820,000 after buying an additional 8,137,139 shares during the period. ETF Managers Group LLC bought a new stake in First Majestic Silver Corp. during the second quarter valued at approximately $5,591,000. Alps Advisors Inc. grew its position in First Majestic Silver Corp. by 93.8% during the second quarter. Alps Advisors Inc. now owns 1,235,506 shares of the mining company’s stock valued at $10,267,000 after buying an additional 598,077 shares during the period. Intact Investment Management Inc. grew its position in First Majestic Silver Corp. by 1,664.8% during the second quarter. Intact Investment Management Inc. now owns 471,200 shares of the mining company’s stock valued at $5,021,000 after buying an additional 444,500 shares during the period. Finally, Morgan Stanley grew its position in First Majestic Silver Corp. by 68.3% during the first quarter. Morgan Stanley now owns 944,449 shares of the mining company’s stock valued at $7,668,000 after buying an additional 383,398 shares during the period. Institutional investors own 29.37% of the company’s stock.

About First Majestic Silver Corp.

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.

Analyst Recommendations for First Majestic Silver Corp. (NYSE:AG)

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