Shares of First Majestic Silver Corp. (TSE:FR) (NYSE:AG) shot up 5.1% during mid-day trading on Tuesday . The company traded as high as C$8.91 and last traded at C$8.89. 465,282 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 710,127 shares. The stock had previously closed at C$8.46.

A number of brokerages have issued reports on FR. National Bank Financial reduced their price target on shares of First Majestic Silver Corp. from C$12.00 to C$11.00 and set an “outperform” rating on the stock in a report on Thursday, August 17th. TD Securities dropped their price objective on shares of First Majestic Silver Corp. from C$12.00 to C$11.50 and set a “hold” rating for the company in a research note on Friday, August 4th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a C$12.00 price objective on shares of First Majestic Silver Corp. in a research note on Wednesday, July 12th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of C$11.67.

The stock has a market capitalization of $1.47 billion and a PE ratio of 113.59. The company has a 50-day moving average price of $8.79 and a 200-day moving average price of $10.44.

In related news, Director Robert A. Mccallum sold 8,000 shares of the firm’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of C$10.81, for a total transaction of C$86,480.00. Also, insider Salvador Garcia sold 83,800 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of C$10.20, for a total transaction of C$854,760.00. Over the last 90 days, insiders have sold 151,800 shares of company stock valued at $1,541,240.

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First Majestic Silver Corp. Company Profile

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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