Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded First Majestic Silver from a buy rating to a hold rating in a report on Wednesday, April 3rd. BMO Capital Markets restated a hold rating on shares of First Majestic Silver in a report on Tuesday, April 2nd. B. Riley initiated coverage on First Majestic Silver in a report on Friday, March 1st. They set a neutral rating and a $6.00 price objective on the stock. Finally, HC Wainwright set a $8.00 price objective on First Majestic Silver and gave the stock a buy rating in a report on Tuesday, February 26th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. First Majestic Silver presently has a consensus rating of Hold and a consensus target price of $7.60.
Shares of NYSE:AG opened at $6.07 on Tuesday. The stock has a market cap of $1.19 billion, a P/E ratio of -28.90 and a beta of -0.13. The company has a current ratio of 2.86, a quick ratio of 2.30 and a debt-to-equity ratio of 0.25. First Majestic Silver has a one year low of $4.59 and a one year high of $8.48.
First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Monday, February 25th. The mining company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The company had revenue of $74.10 million for the quarter, compared to analysts’ expectations of $116.30 million. First Majestic Silver had a negative net margin of 67.85% and a negative return on equity of 5.77%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.04) earnings per share. On average, equities analysts forecast that First Majestic Silver will post 0.07 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of First Majestic Silver by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,920,837 shares of the mining company’s stock worth $22,270,000 after acquiring an additional 14,475 shares in the last quarter. Vanguard Group Inc grew its position in shares of First Majestic Silver by 0.4% in the 3rd quarter. Vanguard Group Inc now owns 3,920,837 shares of the mining company’s stock worth $22,270,000 after acquiring an additional 14,475 shares in the last quarter. Morgan Stanley grew its position in shares of First Majestic Silver by 39.4% in the 3rd quarter. Morgan Stanley now owns 3,884,212 shares of the mining company’s stock worth $22,063,000 after acquiring an additional 1,097,560 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of First Majestic Silver in the 4th quarter worth approximately $15,705,000. Finally, Commerzbank Aktiengesellschaft FI grew its position in shares of First Majestic Silver by 33.2% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 2,082,930 shares of the mining company’s stock worth $12,268,000 after acquiring an additional 519,694 shares in the last quarter. Institutional investors own 26.28% 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 production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.
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