First Majestic Silver (NYSE:AG) Downgraded to "Buy" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded First Majestic Silver from "strong‑buy" to "buy"; the analyst picture is mixed but MarketBeat's consensus is a "Moderate Buy" with an average price target of $25 and individual targets up to $30.
• First Majestic posted Q4 EPS of $0.30 (beating $0.27) while revenue of $463.9M missed estimates; the stock trades near $21.49 with a $10.6B market cap and a 52‑week range of $5.49–$32.03.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

A number of other equities analysts have also weighed in on the company. Scotiabank upped their target price on First Majestic Silver from $12.50 to $23.00 and gave the stock a "sector perform" rating in a research note on Monday, January 26th. HC Wainwright increased their price objective on First Majestic Silver to $30.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Weiss Ratings reiterated a "hold (c-)" rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. Zacks Research lowered First Majestic Silver from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Finally, BMO Capital Markets upgraded First Majestic Silver from a "market perform" rating to an "outperform" rating in a research report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, First Majestic Silver has a consensus rating of "Moderate Buy" and an average price target of $25.00.

First Majestic Silver Stock Performance

NYSE:AG opened at $21.49 on Friday. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 61.41 and a beta of 0.97. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.41 and a current ratio of 2.60. The business's fifty day moving average is $23.43 and its 200 day moving average is $18.58. First Majestic Silver has a 52-week low of $5.49 and a 52-week high of $32.03.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.03. The business had revenue of $463.92 million for the quarter, compared to analyst estimates of $561.30 million. First Majestic Silver had a return on equity of 7.25% and a net margin of 13.12%.The company's quarterly revenue was up 169.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 EPS. Research analysts predict that First Majestic Silver will post 0.54 EPS for the current year.

Institutional Investors Weigh In On First Majestic Silver

Several institutional investors and hedge funds have recently bought and sold shares of AG. Arrowstreet Capital Limited Partnership lifted its holdings in First Majestic Silver by 408.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company's stock worth $250,821,000 after buying an additional 12,081,688 shares during the period. Van ECK Associates Corp lifted its holdings in First Majestic Silver by 32.0% in the 3rd quarter. Van ECK Associates Corp now owns 43,225,807 shares of the mining company's stock worth $531,234,000 after buying an additional 10,471,543 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in First Majestic Silver by 38.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,932,368 shares of the mining company's stock worth $232,539,000 after buying an additional 5,265,612 shares during the period. Teacher Retirement System of Texas purchased a new stake in First Majestic Silver in the 3rd quarter worth approximately $55,071,000. Finally, Alps Advisors Inc. lifted its holdings in First Majestic Silver by 108.7% in the 3rd quarter. Alps Advisors Inc. now owns 7,203,207 shares of the mining company's stock worth $88,527,000 after buying an additional 3,751,376 shares during the period. Hedge funds and other institutional investors own 27.16% of the company's stock.

About First Majestic Silver

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.

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