First Majestic Silver (TSE:FR) Stock Price Up 7.2%

Shares of First Majestic Silver Corp. (TSE:FR – Get Rating) (NYSE:AG) were up 7.2% during mid-day trading on Thursday . The stock traded as high as C$10.17 and last traded at C$10.16. Approximately 315,107 shares changed hands during trading, a decline of 59% from the average daily volume of 769,273 shares. The stock had previously closed at C$9.48.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FR shares. HC Wainwright reissued a “buy” rating and set a C$19.50 price target on shares of First Majestic Silver in a report on Friday, May 13th. BMO Capital Markets lifted their price target on shares of First Majestic Silver from C$9.50 to C$10.25 in a report on Friday. National Bankshares cut their price target on shares of First Majestic Silver from C$18.00 to C$11.75 and set a “sector perform” rating for the company in a report on Thursday, July 21st. Cormark lifted their price target on shares of First Majestic Silver from C$12.50 to C$14.25 in a report on Friday. Finally, TD Securities cut their price target on shares of First Majestic Silver from C$20.00 to C$12.00 and set a “hold” rating for the company in a report on Friday, May 13th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$14.29.

First Majestic Silver Stock Performance

The firm’s 50-day moving average price is C$9.80 and its 200 day moving average price is C$12.87. The company has a debt-to-equity ratio of 15.45, a quick ratio of 1.68 and a current ratio of 2.24. The company has a market cap of C$2.73 billion and a price-to-earnings ratio of 3,460.00.

First Majestic Silver (TSE:FR – Get Rating) (NYSE:AG) last issued its quarterly earnings data on Thursday, May 12th. The mining company reported C($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.07 by C($0.09). The company had revenue of C$198.67 million for the quarter. On average, sell-side analysts anticipate that First Majestic Silver Corp. will post 0.5199999 EPS for the current year.

Insider Activity at First Majestic Silver

In related news, Senior Officer Todd Olson Anthony purchased 5,000 shares of the business’s stock in a transaction on Wednesday, May 18th. The shares were purchased at an average price of C$10.23 per share, with a total value of C$51,150.00. Following the completion of the purchase, the insider now owns 150,000 shares in the company, valued at approximately C$1,534,500. Over the last 90 days, insiders bought 38,500 shares of company stock worth $366,715.

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; Jerritt Canyon gold mine that covers an area of approximately of 30,821 hectares located in Elko County, Nevada; 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.