First Majestic Silver (NYSE:AG) Given New C$18.00 Price Target at National Bank Financial

First Majestic Silver (NYSE:AGGet Rating) (TSE:FR) had its target price hoisted by equities research analysts at National Bank Financial from C$17.00 to C$18.00 in a report released on Wednesday, The Fly reports.

Several other research analysts have also weighed in on AG. HC Wainwright reiterated a “buy” rating and set a $22.00 target price on shares of First Majestic Silver in a report on Tuesday. StockNews.com initiated coverage on First Majestic Silver in a report on Thursday, March 31st. They set a “sell” rating for the company. BMO Capital Markets lowered their price target on shares of First Majestic Silver from C$13.00 to C$12.00 in a research note on Tuesday. Finally, Zacks Investment Research upgraded shares of First Majestic Silver from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $18.00.

Shares of AG traded up $0.05 during trading hours on Wednesday, hitting $13.02. 230,305 shares of the stock traded hands, compared to its average volume of 5,931,799. The business has a fifty day moving average of $12.86 and a 200-day moving average of $12.05. The firm has a market capitalization of $3.39 billion, a PE ratio of -649.68 and a beta of 0.90. First Majestic Silver has a 1-year low of $9.29 and a 1-year high of $18.93. The company has a current ratio of 2.30, a quick ratio of 1.95 and a debt-to-equity ratio of 0.15.

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

A number of hedge funds have recently bought and sold shares of the stock. Invesco Ltd. bought a new position in shares of First Majestic Silver in the second quarter worth about $354,000. Wells Fargo & Company MN raised its stake in shares of First Majestic Silver by 57.2% during the second quarter. Wells Fargo & Company MN now owns 138,112 shares of the mining company’s stock valued at $2,184,000 after acquiring an additional 50,278 shares during the last quarter. Morgan Stanley grew its stake in shares of First Majestic Silver by 7.0% in the second quarter. Morgan Stanley now owns 1,551,886 shares of the mining company’s stock worth $24,535,000 after purchasing an additional 101,662 shares during the last quarter. Sigma Planning Corp increased its holdings in First Majestic Silver by 23.1% in the third quarter. Sigma Planning Corp now owns 47,927 shares of the mining company’s stock valued at $542,000 after purchasing an additional 9,002 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in First Majestic Silver by 5.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 81,382 shares of the mining company’s stock worth $919,000 after purchasing an additional 4,302 shares during the last quarter. 26.97% of the stock is owned by institutional investors and hedge funds.

About First Majestic Silver (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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