First Majestic Silver (NYSE:AG) Given New $11.50 Price Target at HC Wainwright

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR had its target price lifted by research analysts at HC Wainwright from $11.00 to $11.50 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the mining company's stock. HC Wainwright's price target points to a potential upside of 94.92% from the company's current price.

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

First Majestic Silver Stock Performance

First Majestic Silver stock traded up $0.39 during midday trading on Friday, hitting $5.90. The stock had a trading volume of 21,696,526 shares, compared to its average volume of 12,564,470. The firm's fifty day moving average is $6.31 and its two-hundred day moving average is $6.11. The company has a market capitalization of $2.86 billion, a PE ratio of -16.86 and a beta of 0.81. First Majestic Silver has a 52-week low of $4.43 and a 52-week high of $8.09. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its earnings results on Wednesday, May 7th. The mining company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $241.12 million during the quarter, compared to analysts' expectations of $358.65 million. First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. The company's revenue was up 41.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) earnings per share. On average, research 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 have recently added to or reduced their stakes in AG. Barclays PLC purchased a new stake in First Majestic Silver during the 3rd quarter valued at approximately $2,419,000. Geode Capital Management LLC grew its holdings in First Majestic Silver by 9.8% during the 3rd quarter. Geode Capital Management LLC now owns 136,901 shares of the mining company's stock valued at $825,000 after buying an additional 12,171 shares in the last quarter. Fiduciary Family Office LLC purchased a new stake in First Majestic Silver during the 4th quarter valued at approximately $86,000. Euro Pacific Asset Management LLC boosted its position in shares of First Majestic Silver by 10.9% during the 4th quarter. Euro Pacific Asset Management LLC now owns 45,723 shares of the mining company's stock valued at $262,000 after acquiring an additional 4,512 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of First Majestic Silver by 7.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 98,352 shares of the mining company's stock valued at $540,000 after acquiring an additional 7,000 shares during the last quarter. 27.16% of the stock is owned by hedge funds and other institutional investors.

About First Majestic Silver

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.