First Majestic Silver (NYSE:AG) Stock Gets Price Target Trim from HC Wainwright

First Majestic Silver (NYSE:AG) (TSE:FR) had its price target dropped by equities researchers at HC Wainwright from $25.50 to $25.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the mining company’s stock. HC Wainwright‘s target price indicates a potential upside of 68.52% from the stock’s current price.

Several other equities analysts have also issued reports on AG. Zacks Research lowered First Majestic Silver from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. Wall Street Zen cut First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of First Majestic Silver in a research report on Wednesday, September 2nd. Scotiabank cut their price target on shares of First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Finally, ATB Cormark Capital Markets raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 10th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $23.75.

First Majestic Silver Stock Down 3.6%

Shares of First Majestic Silver stock opened at $14.84 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.08. First Majestic Silver has a 12 month low of $10.72 and a 12 month high of $32.03. The business has a fifty day simple moving average of $17.76 and a 200 day simple moving average of $19.90. The stock has a market cap of $7.31 billion, a PE ratio of 20.89 and a beta of 0.98.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, November 5th. The mining company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%. The business had revenue of $394.10 million during the quarter, compared to the consensus estimate of $390.00 million. Research analysts predict that First Majestic Silver will post 0.80 EPS for the current year.

Institutional Trading of First Majestic Silver

Hedge funds have recently added to or reduced their stakes in the business. M Holdings Securities Inc. grew its stake in First Majestic Silver by 3.1% in the second quarter. M Holdings Securities Inc. now owns 16,960 shares of the mining company’s stock valued at $285,000 after acquiring an additional 515 shares during the period. Parallel Advisors LLC increased its holdings in shares of First Majestic Silver by 36.4% in the first quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock worth $45,000 after acquiring an additional 560 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of First Majestic Silver by 184.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock worth $32,000 after acquiring an additional 978 shares in the last quarter. Kestra Advisory Services LLC raised its position in shares of First Majestic Silver by 5.1% during the third quarter. Kestra Advisory Services LLC now owns 37,793 shares of the mining company’s stock worth $669,000 after purchasing an additional 1,818 shares during the period. Finally, Integrated Wealth Concepts LLC raised its position in shares of First Majestic Silver by 18.1% during the second quarter. Integrated Wealth Concepts LLC now owns 11,995 shares of the mining company’s stock worth $203,000 after purchasing an additional 1,838 shares during the period. Institutional investors and hedge funds own 27.16% of the company’s stock.

About First Majestic Silver

First Majestic Silver Corp. is a mining company focused on the exploration, development, and production of silver and gold. The company operates producing mines in Mexico and the United States and sells silver bullion and related products through its in-house First Mint division.

First Majestic’s Mexican operations include the San Dimas Silver/Gold Mine in Durango, the Santa Elena Silver/Gold Mine in Sonora, and the La Encantada Silver Mine in Coahuila. The company also owns the Jerritt Canyon Gold Mine in Nevada, although operations there have been suspended while First Majestic evaluates its future.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically concentrated its growth strategy on acquiring and developing precious-metals assets in the Americas.