HC Wainwright Reaffirms “Buy” Rating for First Majestic Silver (NYSE:AG)

First Majestic Silver (NYSE:AG) (TSE:FR)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $12.75 target price on the mining company’s stock. HC Wainwright’s price target would indicate a potential upside of 43.58% from the company’s current price.

AG has been the subject of a number of other research reports. Scotiabank increased their price objective on shares of First Majestic Silver from $6.00 to $6.50 and gave the company a “sector perform” rating in a research note on Wednesday, July 9th. National Bank Financial raised shares of First Majestic Silver to a “hold” rating in a report on Thursday, June 12th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $9.63.

First Majestic Silver Trading Up 0.2%

Shares of AG stock opened at $8.88 on Friday. First Majestic Silver has a 52-week low of $4.59 and a 52-week high of $9.48. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of -887.11 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.74 and a current ratio of 3.19. The firm has a fifty day moving average of $8.47 and a 200-day moving average of $6.95.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Thursday, August 14th. The mining company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). First Majestic Silver had a net margin of 1.78% and a return on equity of 1.96%. The business had revenue of $264.20 million during the quarter, compared to analyst estimates of $387.25 million. During the same quarter in the prior year, the company posted ($0.07) EPS. The company’s quarterly revenue was up 94.0% compared to the same quarter last year. On average, equities research analysts forecast that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Majestic Silver

Several institutional investors have recently added to or reduced their stakes in AG. Parallel Advisors LLC raised its stake in shares of First Majestic Silver by 1,221.6% in the first quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company’s stock worth $25,000 after acquiring an additional 3,506 shares during the last quarter. AlphaQuest LLC bought a new position in shares of First Majestic Silver in the first quarter worth about $29,000. CWM LLC raised its stake in shares of First Majestic Silver by 57.2% in the second quarter. CWM LLC now owns 5,114 shares of the mining company’s stock worth $42,000 after acquiring an additional 1,860 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of First Majestic Silver in the first quarter worth about $46,000. Finally, Captrust Financial Advisors bought a new position in shares of First Majestic Silver in the fourth quarter worth about $58,000. 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.