First Majestic Silver Corp. (NYSE:AG) (TSE:FR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “First Majestic Silver Corp. is engaged in the production, development, exploration, and acquisition of silver mines in Mexico. First Majestic Silver Corp. is headquartered in Vancouver, Canada. “

AG has been the subject of several other research reports. BidaskClub lowered shares of First Majestic Silver Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. National Bank Financial reissued an “outperform market weight” rating on shares of First Majestic Silver Corp. in a research report on Friday, May 5th. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of First Majestic Silver Corp. in a research report on Friday, August 4th. Finally, Scotiabank reissued a “sector perform” rating and issued a $13.00 price objective on shares of First Majestic Silver Corp. in a research report on Friday, April 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. First Majestic Silver Corp. presently has a consensus rating of “Hold” and a consensus price target of $16.20.

Shares of First Majestic Silver Corp. (NYSE AG) traded up 2.13% during midday trading on Wednesday, reaching $6.22. The company’s stock had a trading volume of 5,662,898 shares. The stock has a market capitalization of $1.03 billion, a PE ratio of 54.09 and a beta of 0.30. First Majestic Silver Corp. has a 52 week low of $6.06 and a 52 week high of $19.15. The company has a 50 day moving average price of $7.87 and a 200-day moving average price of $8.50.

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, August 3rd. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by $0.07. First Majestic Silver Corp. had a return on equity of 1.60% and a net margin of 5.11%. The business had revenue of $60.10 million during the quarter, compared to analyst estimates of $77.62 million. During the same period in the previous year, the company earned $0.03 EPS. First Majestic Silver Corp.’s revenue was down 9.1% on a year-over-year basis. On average, equities research analysts expect that First Majestic Silver Corp. will post $0.05 EPS for the current year.

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A number of large investors have recently added to or reduced their stakes in AG. Independence Advisors LLC purchased a new stake in First Majestic Silver Corp. during the second quarter worth $1,401,000. Sei Investments Co. raised its stake in First Majestic Silver Corp. by 1,046.9% in the second quarter. Sei Investments Co. now owns 12,157 shares of the mining company’s stock worth $101,000 after buying an additional 11,097 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in First Majestic Silver Corp. during the first quarter worth $102,000. Geneva Advisors LLC raised its stake in First Majestic Silver Corp. by 4.1% in the first quarter. Geneva Advisors LLC now owns 12,800 shares of the mining company’s stock worth $104,000 after buying an additional 500 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in First Majestic Silver Corp. by 18.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,536 shares of the mining company’s stock worth $129,000 after buying an additional 2,408 shares during the last quarter. 26.49% of the stock is owned by institutional investors and hedge funds.

First Majestic Silver Corp. Company Profile

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.

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Analyst Recommendations for First Majestic Silver Corp. (NYSE:AG)

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