First Majestic Silver (NYSE:AG) Given New $25.00 Price Target at HC Wainwright

Key Points

• HC Wainwright lowered its price target for First Majestic Silver to $25 from $25.50 but maintained a Buy rating, implying 68.52% upside from the stock’s current price.
• Analyst opinions are mixed: MarketBeat reports a consensus Hold rating and an average price target of $23.75, with three Buy, two Hold, and one Sell ratings.
• First Majestic reported quarterly EPS of $0.19, in line with estimates, and revenue of $394.1 million, above the $390 million consensus forecast.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR had its price objective dropped by equities research analysts at HC Wainwright from $25.50 to $25.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the mining company's stock. HC Wainwright's price target would suggest a potential upside of 68.52% from the stock's current price.

A number of other research firms have also commented on AG. Zacks Research lowered First Majestic Silver from a "hold" rating to a "strong sell" rating in a research report on Monday, October 19th. ATB Cormark Capital Markets upgraded First Majestic Silver from a "hold" rating to a "moderate buy" rating in a research report on Friday, July 10th. Scotiabank reduced their price objective on First Majestic Silver from $23.00 to $22.50 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. Weiss Ratings restated a "hold (c)" rating on shares of First Majestic Silver in a report on Wednesday, September 2nd. Finally, Wall Street Zen lowered First Majestic Silver from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, First Majestic Silver has a consensus rating of "Hold" and a consensus price target of $23.75.

First Majestic Silver Price Performance

Shares of First Majestic Silver stock opened at $14.84 on Friday. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 20.89 and a beta of 0.98. The firm's 50-day moving average price is $17.76 and its two-hundred day moving average price is $19.90. The company has a current ratio of 2.57, a quick ratio of 2.38 and a debt-to-equity ratio of 0.08. First Majestic Silver has a 1-year low of $10.72 and a 1-year high of $32.03.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its earnings results on Thursday, November 5th. The mining company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.19. First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The company had revenue of $394.10 million during the quarter, compared to analysts' expectations of $390.00 million. On average, equities analysts predict that First Majestic Silver will post 0.80 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Euro Pacific Asset Management LLC grew its position in shares of First Majestic Silver by 21.6% during the 3rd quarter. Euro Pacific Asset Management LLC now owns 70,904 shares of the mining company's stock worth $1,254,000 after buying an additional 12,571 shares during the period. StoneX Group Inc. bought a new stake in shares of First Majestic Silver during the third quarter worth approximately $250,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of First Majestic Silver during the third quarter worth approximately $1,884,000. Kestra Advisory Services LLC lifted its holdings in First Majestic Silver by 5.1% in the third quarter. Kestra Advisory Services LLC now owns 37,793 shares of the mining company's stock valued at $669,000 after buying an additional 1,818 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in First Majestic Silver by 9.5% in the third quarter. Commonwealth Equity Services LLC now owns 87,346 shares of the mining company's stock valued at $1,545,000 after buying an additional 7,599 shares during the period. Institutional investors own 27.16% of the company's stock.

First Majestic Silver Company Profile

First Majestic Silver Corp. is a mining company focused on the exploration, development, and production of silver and gold. The company operates producing mines in Mexico and the United States and sells silver bullion and related products through its in-house First Mint division.

First Majestic's Mexican operations include the San Dimas Silver/Gold Mine in Durango, the Santa Elena Silver/Gold Mine in Sonora, and the La Encantada Silver Mine in Coahuila. The company also owns the Jerritt Canyon Gold Mine in Nevada, although operations there have been suspended while First Majestic evaluates its future.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically concentrated its growth strategy on acquiring and developing precious-metals assets in the Americas.

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