First Majestic Silver (NYSE:AG) Price Target Raised to $11.50 at HC Wainwright

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR had its price target raised by HC Wainwright from $11.00 to $11.50 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the mining company's stock. HC Wainwright's target price would suggest a potential upside of 105.72% from the company's current price.

Several other equities research analysts have also recently issued reports on the company. National Bankshares reiterated a "sector perform" rating on shares of First Majestic Silver in a report on Wednesday, April 2nd. TD Securities upgraded shares of First Majestic Silver to a "hold" rating in a research report on Monday, March 10th. Scotiabank reissued a "sector perform" rating and issued a $6.00 price objective on shares of First Majestic Silver in a research note on Wednesday, April 2nd. Finally, StockNews.com raised shares of First Majestic Silver from a "sell" rating to a "hold" rating in a report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $8.75.

First Majestic Silver Price Performance

Shares of AG stock traded down $0.21 during trading hours on Friday, hitting $5.59. The stock had a trading volume of 17,591,849 shares, compared to its average volume of 20,362,428. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 2.12. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -15.97 and a beta of 0.81. First Majestic Silver has a one year low of $4.43 and a one year high of $8.09. The stock's 50-day moving average price is $6.31 and its two-hundred day moving average price is $6.09.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its quarterly earnings data on Wednesday, May 7th. The mining company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. The firm had revenue of $241.12 million during the quarter, compared to the consensus estimate of $358.65 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The business's revenue was up 41.6% compared to the same quarter last year. Equities analysts forecast that First Majestic Silver will post 0.54 EPS for the current year.

Institutional Investors Weigh In On First Majestic Silver

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AlphaQuest LLC purchased a new position in First Majestic Silver during the first quarter valued at approximately $29,000. Sprott Inc. lifted its position in shares of First Majestic Silver by 603.8% in the 1st quarter. Sprott Inc. now owns 4,612,904 shares of the mining company's stock worth $30,856,000 after acquiring an additional 3,957,459 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of First Majestic Silver by 153.5% during the 1st quarter. Hsbc Holdings PLC now owns 278,750 shares of the mining company's stock worth $1,882,000 after acquiring an additional 168,770 shares during the period. Northwest & Ethical Investments L.P. boosted its stake in First Majestic Silver by 19.4% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 25,575 shares of the mining company's stock valued at $171,000 after buying an additional 4,156 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its position in First Majestic Silver by 3.7% in the first quarter. Raymond James Financial Inc. now owns 461,384 shares of the mining company's stock valued at $3,087,000 after buying an additional 16,513 shares in the last quarter. 27.16% of the stock is owned by institutional investors and hedge funds.

First Majestic Silver Company Profile

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.