First Majestic Silver (NYSE:AG) Stock Rating Lowered by Wall Street Zen

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

Several other equities research analysts have also issued reports on AG. Cormark raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 6th. BMO Capital Markets reiterated a “market perform” rating on shares of First Majestic Silver in a research report on Tuesday, October 7th. 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 note on Sunday, October 5th. Finally, TD Securities raised shares of First Majestic Silver from a “hold” rating to a “buy” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, First Majestic Silver currently has a consensus rating of “Moderate Buy” and an average price target of $17.33.

First Majestic Silver Price Performance

NYSE:AG opened at $11.56 on Friday. 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 company has a 50 day moving average price of $12.17 and a 200-day moving average price of $9.43. First Majestic Silver has a 1-year low of $5.09 and a 1-year high of $15.69. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of -1,154.35 and a beta of 0.79.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced 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 for the quarter, compared to analysts’ expectations of $429.78 million. First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.During the same period last year, the company posted ($0.09) earnings per share. The business’s quarterly revenue was up 95.3% on a year-over-year basis. Equities research analysts forecast that First Majestic Silver will post 0.54 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd lifted its holdings in 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 acquiring an additional 40,228 shares during the last quarter. Capital Management Associates Inc acquired a new stake in First Majestic Silver during the second quarter worth $333,000. Bayforest Capital Ltd raised its position in First Majestic Silver by 1,978.6% in the first quarter. Bayforest Capital Ltd now owns 213,843 shares of the mining company’s stock valued at $1,431,000 after purchasing an additional 203,555 shares during the period. DJE Kapital AG acquired a new position in shares of First Majestic Silver in the 2nd quarter valued at $5,615,000. Finally, Marotta Asset Management purchased a new position in shares of First Majestic Silver during the 2nd quarter worth $633,000. 27.16% of the stock is owned by institutional investors and hedge funds.

About First Majestic Silver

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.