National Bank Financial cut shares of First Majestic Silver (NYSE:AG) (TSE:FR) from an outperform rating to a sector perform rating in a research report released on Friday morning, MarketBeat.com reports.

AG has been the subject of a number of other reports. Scotiabank lowered their price target on shares of First Majestic Silver from $11.50 to $9.75 and set a sector perform rating for the company in a report on Friday, November 3rd. Zacks Investment Research raised shares of First Majestic Silver from a hold rating to a buy rating and set a $7.75 price target for the company in a report on Friday, October 20th. BMO Capital Markets lowered shares of First Majestic Silver from a market perform rating to an underperform rating in a report on Friday, December 22nd. HC Wainwright reaffirmed a buy rating and set a $14.00 price target on shares of First Majestic Silver in a report on Wednesday, October 18th. Finally, ValuEngine raised shares of First Majestic Silver from a sell rating to a hold rating in a report on Thursday, December 14th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. First Majestic Silver currently has an average rating of Hold and an average target price of $10.50.

Shares of First Majestic Silver (NYSE:AG) opened at $6.50 on Friday. The firm has a market cap of $1,080.15, a price-to-earnings ratio of 216.74 and a beta of 0.20. First Majestic Silver has a fifty-two week low of $5.92 and a fifty-two week high of $10.92. The company has a current ratio of 3.77, a quick ratio of 3.38 and a debt-to-equity ratio of 0.04.

Hedge funds have recently made changes to their positions in the business. Advisor Group Inc. grew its holdings in First Majestic Silver by 1.6% during the 2nd quarter. Advisor Group Inc. now owns 43,521 shares of the mining company’s stock worth $102,000 after acquiring an additional 695 shares in the last quarter. Scotia Capital Inc. acquired a new position in First Majestic Silver during the 2nd quarter worth $105,000. Quantbot Technologies LP acquired a new position in First Majestic Silver during the 2nd quarter worth $126,000. Virtu Financial LLC grew its holdings in First Majestic Silver by 176.3% during the 3rd quarter. Virtu Financial LLC now owns 48,709 shares of the mining company’s stock worth $143,000 after acquiring an additional 31,080 shares in the last quarter. Finally, ING Groep NV grew its holdings in First Majestic Silver by 60.1% during the 3rd quarter. ING Groep NV now owns 26,420 shares of the mining company’s stock worth $181,000 after acquiring an additional 9,920 shares in the last quarter. 29.95% of the stock is owned by institutional investors.

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About First Majestic Silver

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.

Analyst Recommendations for First Majestic Silver (NYSE:AG)

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