First Majestic Silver (NYSE:AG) Shares Gap Up to $10.91
First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shares gapped up before the market opened on Tuesday . The stock had previously closed at $10.66, but opened at $10.91. First Majestic Silver shares last traded at $11.26, with a volume of 5,368,566 shares changing hands.
A number of research firms recently commented on AG. HC Wainwright reiterated a “buy” rating and set a $11.50 price objective on shares of First Majestic Silver in a research report on Friday, November 8th. Zacks Investment Research upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Friday, November 8th. B. Riley raised their price target on shares of First Majestic Silver from $5.95 to $8.20 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Finally, ValuEngine downgraded shares of First Majestic Silver from a “strong-buy” rating to a “buy” rating in a report on Monday, September 30th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $10.23.
The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -54.34 and a beta of 0.13. The company has a fifty day simple moving average of $10.47 and a two-hundred day simple moving average of $9.19. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.14 and a current ratio of 3.69.
A number of institutional investors have recently added to or reduced their stakes in AG. Resources Investment Advisors LLC. boosted its holdings in First Majestic Silver by 281.3% in the second quarter. Resources Investment Advisors LLC. now owns 6,100 shares of the mining company’s stock valued at $48,000 after acquiring an additional 4,500 shares during the last quarter. CoreCommodity Management LLC acquired a new stake in First Majestic Silver during the second quarter worth about $96,000. Paloma Partners Management Co purchased a new position in shares of First Majestic Silver in the 2nd quarter worth about $96,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of First Majestic Silver by 17.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,302 shares of the mining company’s stock worth $103,000 after purchasing an additional 1,646 shares during the period. Finally, ARP Americas LP acquired a new position in shares of First Majestic Silver in the 3rd quarter valued at about $109,000. Hedge funds and other institutional investors own 30.26% of the company’s stock.
First Majestic Silver Company Profile (NYSE:AG)
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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