First Majestic Silver (NYSE:AG) Rating Lowered to Hold at Wall Street Zen

First Majestic Silver (NYSE:AG) (TSE:FR) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Other equities research analysts have also recently issued reports about the stock. National Bankshares set a $22.00 price target on shares of First Majestic Silver and gave the company an “outperform” rating in a research report on Monday, October 6th. TD Securities raised First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Wednesday, October 8th. HC Wainwright set a $17.50 price target on First Majestic Silver in a research note on Friday, October 10th. National Bank Financial raised shares of First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research report on Sunday, October 5th. Finally, Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, First Majestic Silver has a consensus rating of “Moderate Buy” and a consensus price target of $17.33.

First Majestic Silver Stock Performance

AG opened at $12.05 on Friday. The firm’s fifty day simple moving average is $12.13 and its two-hundred day simple moving average is $9.37. First Majestic Silver has a 52-week low of $5.09 and a 52-week high of $15.69. The company has a market cap of $5.90 billion, a price-to-earnings ratio of -1,203.30 and a beta of 0.79. The company has a quick ratio of 2.84, a current ratio of 3.27 and a debt-to-equity ratio of 0.08.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings results on Wednesday, November 5th. The mining company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). The firm had revenue of $285.10 million during the quarter, compared to analyst estimates of $429.78 million. First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.The business’s revenue was up 95.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.09) earnings per share. Equities analysts anticipate that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Majestic Silver

A number of institutional investors and hedge funds have recently modified their holdings of AG. Dynamic Technology Lab Private Ltd lifted its holdings in shares of First Majestic Silver by 66.4% in the first quarter. Dynamic Technology Lab Private Ltd now owns 100,855 shares of the mining company’s stock valued at $675,000 after purchasing an additional 40,228 shares in the last quarter. Capital Management Associates Inc purchased a new stake in First Majestic Silver in the 2nd quarter valued at approximately $333,000. Bayforest Capital Ltd grew its holdings in First Majestic Silver by 1,978.6% during the 1st quarter. Bayforest Capital Ltd now owns 213,843 shares of the mining company’s stock valued at $1,431,000 after buying an additional 203,555 shares during the last quarter. DJE Kapital AG purchased a new position in First Majestic Silver during the second quarter worth $5,615,000. Finally, Marotta Asset Management acquired a new position in shares of First Majestic Silver in the second quarter worth $633,000. 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.