First Majestic Silver (NYSE:AG) Upgraded at National Bank Financial

First Majestic Silver (NYSE:AG) (TSE:FR) was upgraded by equities research analysts at National Bank Financial from a “hold” rating to a “strong-buy” rating in a note issued to investors on Sunday,Zacks.com reports.

A number of other research analysts also recently weighed in on AG. Wall Street Zen raised shares of First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Friday. Scotiabank raised their target price on shares of First Majestic Silver from $6.00 to $6.50 and gave the company a “sector perform” rating in a research report on Wednesday, July 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Majestic Silver in a research report on Saturday, September 27th. HC Wainwright raised their target price on shares of First Majestic Silver from $12.75 to $14.00 and gave the company a “buy” rating in a research report on Monday. Finally, National Bankshares set a $22.00 target price on shares of First Majestic Silver and gave the company an “outperform” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.17.

First Majestic Silver Trading Up 6.0%

Shares of NYSE:AG opened at $12.84 on Friday. First Majestic Silver has a 12 month low of $5.09 and a 12 month high of $13.55. The company has a quick ratio of 2.84, a current ratio of 3.27 and a debt-to-equity ratio of 0.08. The company’s fifty day simple moving average is $9.76 and its 200 day simple moving average is $8.04. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of -1,282.72 and a beta of 0.76.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Thursday, August 14th. The mining company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.The company had revenue of $264.20 million for the quarter, compared to analyst estimates of $387.25 million. During the same quarter in the previous year, the business earned ($0.07) earnings per share. The company’s revenue was up 94.0% on a year-over-year basis. As a group, research analysts forecast that First Majestic Silver will post 0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC boosted its holdings in shares of First Majestic Silver by 1,221.6% during the 1st quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company’s stock worth $25,000 after buying an additional 3,506 shares during the period. Focus Financial Network Inc. bought a new stake in shares of First Majestic Silver during the 1st quarter worth about $67,000. Tcfg Wealth Management LLC bought a new stake in shares of First Majestic Silver during the 1st quarter worth about $86,000. Oppenheimer & Co. Inc. bought a new stake in shares of First Majestic Silver during the 1st quarter worth about $79,000. Finally, Sage Advisors LLC boosted its holdings in shares of First Majestic Silver by 72.3% during the 1st quarter. Sage Advisors LLC now owns 32,148 shares of the mining company’s stock worth $215,000 after buying an additional 13,492 shares during the period. Institutional investors own 27.16% 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 and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.