First Majestic Silver (NYSE:AG) Stock Rating Upgraded by StockNews.com

First Majestic Silver (NYSE:AG) (TSE:FR) was upgraded by stock analysts at StockNews.com to a “sell” rating in a report issued on Monday.

Several other research analysts have also recently issued reports on the company. BMO Capital Markets assumed coverage on First Majestic Silver in a research report on Thursday, September 14th. They set a “market perform” rating on the stock. TD Securities dropped their price target on First Majestic Silver from C$10.50 to C$10.00 in a report on Friday, August 4th. Finally, HC Wainwright dropped their price target on First Majestic Silver from $12.50 to $12.00 and set a “buy” rating on the stock in a report on Monday, August 7th.

First Majestic Silver Trading Up 0.2 %

Shares of AG traded up $0.01 during mid-day trading on Monday, reaching $5.24. 4,223,977 shares of the company were exchanged, compared to its average volume of 5,710,686. First Majestic Silver has a 52 week low of $4.38 and a 52 week high of $9.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.37 and a current ratio of 2.97. The stock has a market capitalization of $1.50 billion, a PE ratio of -9.03 and a beta of 1.17. The business has a 50 day simple moving average of $5.19 and a two-hundred day simple moving average of $5.74.

Institutional Trading of First Majestic Silver

Several hedge funds have recently made changes to their positions in the company. Moneta Group Investment Advisors LLC raised its stake in shares of First Majestic Silver by 105,048.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 47,055,036 shares of the mining company’s stock valued at $392,439,000 after purchasing an additional 47,010,285 shares during the period. Van ECK Associates Corp grew its position in First Majestic Silver by 12.2% during the first quarter. Van ECK Associates Corp now owns 29,511,019 shares of the mining company’s stock worth $212,774,000 after buying an additional 3,199,855 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in First Majestic Silver by 35.9% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,572,919 shares of the mining company’s stock worth $37,205,000 after buying an additional 1,737,375 shares in the last quarter. Renaissance Technologies LLC purchased a new position in First Majestic Silver during the second quarter worth about $9,005,000. Finally, Two Sigma Investments LP purchased a new position in First Majestic Silver during the third quarter worth about $6,994,000. 31.43% of the stock is currently owned by institutional investors.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine that consists of 119 individual concessions covering an area of 71,839 hectares located in Durango and Sinaloa States, México; the Santa Elena comprising 32 individual concessions that covers an area of 102,172 hectares located in Sonora State, México; and the La Encantada consists of 22 exploitation concessions covering an area of 4,076 hectares located in Coahuila State, México.