First Majestic Silver (NYSE:AG) PT Raised to $8.50

First Majestic Silver (NYSE:AG) (TSE:FR) had its price objective raised by research analysts at HC Wainwright from $7.00 to $8.50 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the mining company’s stock. HC Wainwright’s price objective would indicate a potential upside of 26.30% from the company’s previous close.

Separately, StockNews.com raised First Majestic Silver to a “sell” rating in a research report on Monday, February 26th.

First Majestic Silver Stock Performance

First Majestic Silver stock opened at $6.73 on Friday. The business has a 50 day moving average of $5.71 and a 200-day moving average of $5.50. The company has a market capitalization of $1.93 billion, a P/E ratio of -14.02 and a beta of 1.43. First Majestic Silver has a 1 year low of $4.17 and a 1 year high of $8.44. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.57 and a quick ratio of 2.04.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Thursday, February 22nd. The mining company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $136.95 million for the quarter. First Majestic Silver had a negative net margin of 23.55% and a negative return on equity of 1.85%. During the same period in the previous year, the firm earned ($0.07) earnings per share. On average, equities research analysts predict that First Majestic Silver will post -0.06 earnings per share for the current year.

Institutional Investors Weigh In On First Majestic Silver

A number of institutional investors have recently modified their holdings of the company. United Capital Management of KS Inc. acquired a new position in First Majestic Silver in the first quarter valued at $162,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of First Majestic Silver in the 1st quarter worth about $48,000. Vanguard Group Inc. lifted its stake in shares of First Majestic Silver by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 10,265,051 shares of the mining company’s stock valued at $63,130,000 after purchasing an additional 479,948 shares during the period. Creekmur Asset Management LLC bought a new stake in shares of First Majestic Silver during the 4th quarter valued at about $43,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of First Majestic Silver by 231.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,614,262 shares of the mining company’s stock valued at $9,928,000 after purchasing an additional 1,127,952 shares in the last quarter. 27.16% of the stock is owned by institutional investors.

About First Majestic Silver

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. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.