First Majestic Silver Corp. (NYSE:AG) (TSE:FR) – Equities research analysts at National Bank Financial boosted their Q3 2018 EPS estimates for First Majestic Silver in a research report issued to clients and investors on Monday, October 15th, Zacks Investment Research reports. National Bank Financial analyst D. Demarco now forecasts that the mining company will post earnings of $0.00 per share for the quarter, up from their prior estimate of ($0.03). National Bank Financial currently has a “Sector Perform Market Weight” rating on the stock. National Bank Financial also issued estimates for First Majestic Silver’s FY2018 earnings at ($0.12) EPS and FY2019 earnings at $0.15 EPS.
Several other equities research analysts have also commented on AG. ValuEngine lowered First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. HC Wainwright dropped their price target on First Majestic Silver from $11.50 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, July 17th. Zacks Investment Research lowered First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. BMO Capital Markets upgraded First Majestic Silver from a “market perform” rating to an “outperform” rating in a research report on Monday, August 27th. Finally, Roth Capital set a $8.00 price target on First Majestic Silver and gave the company a “buy” rating in a research report on Tuesday, October 16th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. First Majestic Silver currently has a consensus rating of “Buy” and an average price target of $8.75.
First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Wednesday, November 7th. The mining company reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. First Majestic Silver had a negative return on equity of 5.36% and a negative net margin of 33.27%. The company had revenue of $88.50 million during the quarter, compared to analyst estimates of $126.56 million. First Majestic Silver’s revenue for the quarter was up 43.0% on a year-over-year basis.
Hedge funds have recently bought and sold shares of the company. Global X Management Co LLC grew its position in shares of First Majestic Silver by 5.3% in the second quarter. Global X Management Co LLC now owns 2,461,083 shares of the mining company’s stock valued at $18,765,000 after purchasing an additional 123,287 shares in the last quarter. AGF Investments Inc. acquired a new position in First Majestic Silver in the second quarter valued at approximately $239,000. Wells Fargo & Company MN lifted its holdings in First Majestic Silver by 14.2% in the first quarter. Wells Fargo & Company MN now owns 89,056 shares of the mining company’s stock valued at $544,000 after acquiring an additional 11,062 shares during the last quarter. Trexquant Investment LP acquired a new position in First Majestic Silver in the second quarter valued at approximately $248,000. Finally, Swiss National Bank lifted its holdings in First Majestic Silver by 8.8% in the second quarter. Swiss National Bank now owns 313,600 shares of the mining company’s stock valued at $2,385,000 after acquiring an additional 25,300 shares during the last quarter. Institutional investors and hedge funds own 25.78% 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 production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.
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