First Majestic Silver (AG) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of First Majestic Silver (NYSE:AG) (TSE:FR) from a strong-buy rating to a hold rating in a report issued on Wednesday morning.

According to Zacks, “First Majestic Silver Corp. is engaged in the production, development, exploration, and acquisition of silver mines in Mexico. First Majestic Silver Corp. is headquartered in Vancouver, Canada. “

A number of other analysts also recently issued reports on AG. HC Wainwright reaffirmed a buy rating and set a $14.00 price target on shares of First Majestic Silver in a report on Wednesday, October 18th. Scotiabank lowered their price objective on shares of First Majestic Silver from $11.50 to $9.75 and set a sector perform rating on the stock in a research note on Friday, November 3rd. ValuEngine cut shares of First Majestic Silver from a hold rating to a sell rating in a research note on Friday, November 10th. Finally, BMO Capital Markets assumed coverage on shares of First Majestic Silver in a research note on Friday, November 17th. They issued a market perform rating on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $10.50.

Shares of First Majestic Silver (AG) traded up $0.01 during midday trading on Wednesday, hitting $7.05. 2,555,200 shares of the stock were exchanged, compared to its average volume of 2,700,000. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.38 and a current ratio of 3.77. The stock has a market cap of $1,170.00, a P/E ratio of 235.00 and a beta of 0.20. First Majestic Silver has a 12-month low of $5.92 and a 12-month high of $10.92.

Several large investors have recently modified their holdings of the company. Van ECK Associates Corp lifted its stake in shares of First Majestic Silver by 71.0% in the 2nd quarter. Van ECK Associates Corp now owns 19,593,256 shares of the mining company’s stock worth $162,820,000 after purchasing an additional 8,137,139 shares during the period. Vanguard Group Inc. lifted its stake in shares of First Majestic Silver by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,346,737 shares of the mining company’s stock worth $27,811,000 after purchasing an additional 172,004 shares during the period. Commerzbank Aktiengesellschaft FI lifted its stake in shares of First Majestic Silver by 513.6% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 2,109,456 shares of the mining company’s stock worth $14,429,000 after purchasing an additional 1,765,678 shares during the period. Global X MANAGEMENT CO LLC lifted its stake in shares of First Majestic Silver by 8.1% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 2,052,117 shares of the mining company’s stock worth $13,980,000 after purchasing an additional 154,623 shares during the period. Finally, ETF Managers Group LLC bought a new stake in First Majestic Silver during the 2nd quarter worth approximately $5,591,000. Hedge funds and other institutional investors own 29.95% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece of content was posted by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of international copyright laws. The legal version of this piece of content can be accessed at https://transcriptdaily.com/2018/01/05/first-majestic-silver-ag-downgraded-to-hold-at-zacks-investment-research.html.

First Majestic Silver Company Profile

First Majestic Silver Corp. is a mining company. The Company is focused on silver production in Mexico and it is pursuing the development of its existing mineral property assets. The Company operates through eight segments, six of which are located in Mexico; one retail market segment in Canada, and one metal trading segment in Europe.

Analyst Recommendations for First Majestic Silver (NYSE:AG)

Receive News & Ratings for First Majestic Silver Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Majestic Silver and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply