First Majestic Silver’s (AG) “Buy” Rating Reiterated at HC Wainwright

First Majestic Silver (NYSE:AG – Get Rating) (TSE:FR)‘s stock had its “buy” rating reiterated by HC Wainwright in a research note issued to investors on Tuesday, TipRanks reports. They presently have a $22.00 price target on the mining company’s stock. HC Wainwright’s price objective would indicate a potential upside of 65.41% from the company’s current price.

A number of other equities research analysts also recently issued reports on the stock. TheStreet downgraded shares of First Majestic Silver from a “b-” rating to a “c” rating in a research note on Monday, December 20th. Zacks Investment Research upgraded shares of First Majestic Silver from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 22nd. BMO Capital Markets decreased their price target on shares of First Majestic Silver from C$13.50 to C$13.00 in a research report on Friday, April 1st. Finally, StockNews.com started coverage on shares of First Majestic Silver in a research report on Thursday, March 31st. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, First Majestic Silver presently has a consensus rating of “Hold” and an average target price of $18.25.

Shares of AG stock traded down $0.59 during mid-day trading on Tuesday, hitting $13.30. The company had a trading volume of 333,288 shares, compared to its average volume of 5,894,780. First Majestic Silver has a 52-week low of $9.29 and a 52-week high of $18.93. The stock’s 50 day moving average price is $12.82 and its 200-day moving average price is $12.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.30 and a quick ratio of 1.95. The company has a market capitalization of $3.46 billion, a P/E ratio of -661.17 and a beta of 0.90.

First Majestic Silver (NYSE:AG – Get Rating) (TSE:FR) last released its earnings results on Thursday, March 10th. The mining company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). First Majestic Silver had a positive return on equity of 0.45% and a negative net margin of 0.84%. The company had revenue of $204.90 million during the quarter, compared to analysts’ expectations of $263.74 million. During the same period last year, the firm posted $0.11 EPS. First Majestic Silver’s quarterly revenue was up 75.0% compared to the same quarter last year. On average, equities research analysts expect that First Majestic Silver will post 0.25 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Resources Investment Advisors LLC. boosted its position in shares of First Majestic Silver by 6.1% during the 4th quarter. Resources Investment Advisors LLC. now owns 17,046 shares of the mining company’s stock worth $189,000 after purchasing an additional 975 shares during the period. Fifth Third Bancorp boosted its position in shares of First Majestic Silver by 42.4% during the 4th quarter. Fifth Third Bancorp now owns 4,201 shares of the mining company’s stock worth $47,000 after purchasing an additional 1,250 shares during the period. BlackRock Inc. boosted its position in shares of First Majestic Silver by 1.0% during the 4th quarter. BlackRock Inc. now owns 121,422 shares of the mining company’s stock worth $1,349,000 after purchasing an additional 1,253 shares during the period. Alberta Investment Management Corp boosted its position in shares of First Majestic Silver by 1.3% during the 4th quarter. Alberta Investment Management Corp now owns 105,000 shares of the mining company’s stock worth $1,170,000 after purchasing an additional 1,300 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of First Majestic Silver by 84.2% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,992 shares of the mining company’s stock worth $33,000 after purchasing an additional 1,368 shares during the period. Institutional investors and hedge funds own 26.97% of the company’s stock.

First Majestic Silver Company Profile (Get Rating)

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. It holds 100% interests in the San Dimas Silver/Gold Mine covering an area of 71,868 hectares located in Durango and Sinaloa states; the Santa Elena Silver/Gold Mine covering an area of 102,244 hectares located in Sonora; and the La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila, as well as surface land ownership of 1,343 hectares.

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