First Majestic Silver Corp. (NYSE:AG) Stock Has Consensus Target Price of $24.00

Key Points

• First Majestic Silver has a consensus “Hold” rating from seven analysts, with four buys, two holds, and one sell. The average 12-month price target is $24.00.
• Analyst sentiment has been mixed, including an upgrade to “moderate buy,” a downgrade to “strong sell,” and Scotiabank lowering its price target to $22.50.
• The stock opened at $14.30, with a $7.05 billion market capitalization and a 12-month trading range of $10.19 to $32.03. Institutional investors and hedge funds own 27.16% of the company.

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR has been assigned a consensus rating of "Hold" from the seven brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $24.00.

Several research analysts have recently commented on AG shares. ATB Cormark Capital Markets upgraded First Majestic Silver from a "hold" rating to a "moderate buy" rating in a research note on Friday, July 10th. Zacks Research lowered First Majestic Silver from a "hold" rating to a "strong sell" rating in a report on Monday, October 19th. Weiss Ratings restated a "hold (c)" rating on shares of First Majestic Silver in a research note on Wednesday, September 2nd. Wall Street Zen downgraded First Majestic Silver from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Scotiabank cut their price target on First Majestic Silver from $23.00 to $22.50 and set a "sector perform" rating for the company in a report on Tuesday, July 14th.

First Majestic Silver Trading Up 0.3%

NYSE AG opened at $14.30 on Tuesday. The company has a market cap of $7.05 billion, a PE ratio of 20.14 and a beta of 0.97. 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 12 month low of $10.19 and a 12 month high of $32.03. The stock has a 50 day moving average of $18.13 and a 200-day moving average of $19.99.

Institutional Trading of First Majestic Silver

A number of hedge funds have recently modified their holdings of AG. PNC Financial Services Group Inc. boosted its position in First Majestic Silver by 184.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company's stock worth $32,000 after buying an additional 978 shares during the period. Parallel Advisors LLC increased its position in First Majestic Silver by 36.4% in the 1st quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company's stock valued at $45,000 after acquiring an additional 560 shares during the period. Fortitude Family Office LLC bought a new position in shares of First Majestic Silver during the third quarter valued at $39,000. Bard Associates Inc. bought a new position in shares of First Majestic Silver during the second quarter valued at $53,000. Finally, Trust Co. of Vermont bought a new position in shares of First Majestic Silver during the second quarter valued at $61,000. Institutional investors and hedge funds 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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