Analysts Set First Majestic Silver Corp. (NYSE:AG) PT at $23.17

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $23.1667.

AG has been the subject of several recent research reports. Wall Street Zen cut First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of First Majestic Silver in a report on Wednesday, January 21st. Scotiabank raised their price target on First Majestic Silver from $12.50 to $23.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. HC Wainwright boosted their price target on First Majestic Silver from $17.50 to $24.50 and gave the company a “buy” rating in a research note on Friday, January 16th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of First Majestic Silver in a research note on Friday, January 16th.

Institutional Trading of First Majestic Silver

Large investors have recently bought and sold shares of the business. Lodestone Wealth Management LLC acquired a new position in First Majestic Silver during the 4th quarter worth approximately $25,000. Bogart Wealth LLC acquired a new position in shares of First Majestic Silver during the third quarter worth $28,000. Spire Wealth Management bought a new position in shares of First Majestic Silver in the 4th quarter valued at $35,000. Sound Income Strategies LLC raised its holdings in First Majestic Silver by 29,900.0% in the 3rd quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock valued at $37,000 after buying an additional 2,990 shares during the last quarter. Finally, CWM LLC boosted its position in First Majestic Silver by 57.2% during the 2nd quarter. CWM LLC now owns 5,114 shares of the mining company’s stock worth $42,000 after buying an additional 1,860 shares during the period. 27.16% of the stock is owned by institutional investors and hedge funds.

First Majestic Silver Trading Down 9.9%

Shares of First Majestic Silver stock opened at $20.21 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.38. The firm has a 50-day moving average of $18.77 and a 200-day moving average of $13.61. First Majestic Silver has a 52-week low of $5.09 and a 52-week high of $27.90. The stock has a market cap of $9.93 billion, a PE ratio of 144.39 and a beta of 0.85.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Wednesday, November 5th. The mining company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.04). The business 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 3.14% and a net margin of 7.07%.First Majestic Silver’s revenue for the quarter was up 95.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.09) EPS. As a group, sell-side analysts forecast that First Majestic Silver will post 0.54 EPS for the current year.

First Majestic Silver Company Profile

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.