First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has earned an average rating of “Hold” from the nine brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $8.92.

Several research firms recently issued reports on AG. Zacks Investment Research upgraded First Majestic Silver from a “hold” rating to a “buy” rating and set a $9.25 price target on the stock in a research report on Tuesday, July 10th. ValuEngine upgraded First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Wednesday, July 4th. Scotiabank set a $8.75 price target on First Majestic Silver and gave the stock a “sector perform” rating in a research report on Tuesday, June 12th. HC Wainwright reduced their price target on First Majestic Silver from $11.50 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, July 17th. Finally, BMO Capital Markets upgraded First Majestic Silver from an “underperform” rating to a “market perform” rating in a research report on Monday, May 14th.

Shares of First Majestic Silver stock traded down $0.25 during trading on Tuesday, hitting $5.31. 3,551,200 shares of the stock traded hands, compared to its average volume of 3,091,740. The company has a current ratio of 3.20, a quick ratio of 2.74 and a debt-to-equity ratio of 0.20. First Majestic Silver has a 52 week low of $4.93 and a 52 week high of $8.48. The firm has a market capitalization of $1.07 billion, a PE ratio of -131.73 and a beta of 0.02.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Monday, August 13th. The mining company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). First Majestic Silver had a negative return on equity of 4.40% and a negative net margin of 39.42%. The company had revenue of $79.70 million for the quarter, compared to the consensus estimate of $111.49 million. During the same quarter in the previous year, the business earned ($0.01) earnings per share. First Majestic Silver’s revenue was up 32.6% compared to the same quarter last year. analysts predict that First Majestic Silver will post -0.16 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp grew its position in shares of First Majestic Silver by 17.0% in the 2nd quarter. Van ECK Associates Corp now owns 23,913,609 shares of the mining company’s stock worth $182,461,000 after buying an additional 3,471,408 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of First Majestic Silver by 121.7% in the 2nd quarter. CIBC Asset Management Inc now owns 516,348 shares of the mining company’s stock worth $3,940,000 after buying an additional 283,464 shares during the last quarter. Capital Fund Management S.A. bought a new stake in shares of First Majestic Silver in the 2nd quarter worth approximately $1,920,000. Global X Management Co. LLC grew its position in shares of First Majestic Silver by 7.0% in the 1st quarter. Global X Management Co. LLC now owns 2,337,796 shares of the mining company’s stock worth $14,307,000 after buying an additional 153,696 shares during the last quarter. Finally, Global X Management Co LLC grew its position in shares of First Majestic Silver by 5.3% in the 2nd quarter. Global X Management Co LLC now owns 2,461,083 shares of the mining company’s stock worth $18,765,000 after buying an additional 123,287 shares during the last quarter. Institutional investors and hedge funds own 25.88% 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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