HC Wainwright set a $8.00 price objective on First Majestic Silver (NYSE:AG) (TSE:FR) in a report published on Wednesday, April 17th, TipRanks reports. The brokerage currently has a buy rating on the mining company’s stock.
Several other brokerages also recently commented on AG. ValuEngine downgraded First Majestic Silver from a buy rating to a hold rating in a research note on Tuesday, April 16th. Zacks Investment Research cut First Majestic Silver from a buy rating to a hold rating in a report on Wednesday, April 3rd. BMO Capital Markets reissued a hold rating on shares of First Majestic Silver in a report on Tuesday, April 2nd. Finally, B. Riley started coverage on First Majestic Silver in a report on Friday, March 1st. They set a neutral rating and a $6.00 price target on the stock. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $7.60.
Shares of AG stock traded down $0.04 during midday trading on Wednesday, reaching $5.96. 51,645 shares of the stock were exchanged, compared to its average volume of 3,084,350. First Majestic Silver has a 1 year low of $4.59 and a 1 year high of $8.48. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.30 and a current ratio of 2.86. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -28.14 and a beta of -0.17.
A number of institutional investors have recently made changes to their positions in AG. Virtu Financial LLC purchased a new stake in First Majestic Silver in the 4th quarter worth $287,000. Vanguard Group Inc. grew its position in shares of First Majestic Silver by 0.4% during the third quarter. Vanguard Group Inc. now owns 3,920,837 shares of the mining company’s stock valued at $22,270,000 after purchasing an additional 14,475 shares in the last quarter. Morgan Stanley grew its position in shares of First Majestic Silver by 39.4% during the third quarter. Morgan Stanley now owns 3,884,212 shares of the mining company’s stock valued at $22,063,000 after purchasing an additional 1,097,560 shares in the last quarter. Norges Bank purchased a new position in shares of First Majestic Silver during the fourth quarter valued at about $2,346,000. Finally, Old West Investment Management LLC purchased a new position in shares of First Majestic Silver during the fourth quarter valued at about $1,178,000. 26.36% of the stock is currently 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 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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