First Majestic Silver (NYSE:AG) Stock Rating Lowered by Cormark

First Majestic Silver (NYSE:AG) (TSE:FR) was downgraded by equities researchers at Cormark from a “moderate buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts have also commented on AG. National Bankshares set a $22.00 target price on First Majestic Silver and gave the company an “outperform” rating in a report on Monday, October 6th. HC Wainwright set a $17.50 price objective on First Majestic Silver in a report on Friday, October 10th. National Bank Financial raised First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research report on Sunday, October 5th. Scotiabank raised their target price on shares of First Majestic Silver from $9.00 to $12.50 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of First Majestic Silver in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.33.

First Majestic Silver Trading Up 3.0%

Shares of NYSE:AG opened at $13.02 on Wednesday. First Majestic Silver has a 1 year low of $5.09 and a 1 year high of $15.69. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of -1,300.20 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.27 and a quick ratio of 2.84. The business’s 50 day moving average price is $11.54 and its 200-day moving average price is $8.93.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, August 14th. The mining company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.The business had revenue of $264.20 million during the quarter, compared to analysts’ expectations of $387.25 million. During the same period last year, the business earned ($0.07) earnings per share. The company’s revenue for the quarter 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.

Institutional Investors Weigh In On First Majestic Silver

Several institutional investors and hedge funds have recently bought and sold shares of the business. Oppenheimer & Co. Inc. acquired a new stake in First Majestic Silver in the first quarter worth $79,000. D.A. Davidson & CO. acquired a new stake in shares of First Majestic Silver in the 1st quarter worth about $445,000. Mountain Capital Investment Advisors Inc. acquired a new stake in shares of First Majestic Silver in the 1st quarter worth about $124,000. Bank of New York Mellon Corp acquired a new stake in shares of First Majestic Silver in the 1st quarter worth about $84,000. Finally, Alps Advisors Inc. acquired a new stake in shares of First Majestic Silver in the 1st quarter worth about $1,935,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Company Profile

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.