First Majestic Silver (NYSE:AG) Rating Increased to Outperform at BMO Capital Markets

Key Points

• Upgraded: BMO Capital Markets raised First Majestic Silver (NYSE:AG) from "market perform" to "outperform," and the consensus across analysts is a Buy with an average target price of $25.00.
• In the latest quarter AG reported EPS of $0.30 (beating the $0.27 estimate) and revenue of $463.92 million—up 169.2% year‑over‑year but below the $561.3M consensus.
• Shares opened at $19.14, trading below the 50‑day SMA of $24.02 but above the 200‑day SMA of $17.31, with a market cap of $9.44 billion and a 1‑year range of $5.18–$32.03.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR was upgraded by equities research analysts at BMO Capital Markets from a "market perform" rating to an "outperform" rating in a research note issued to investors on Tuesday,Finviz reports.

AG has been the topic of a number of other research reports. HC Wainwright increased their target price on First Majestic Silver to $30.00 and gave the company a "buy" rating in a report on Friday, February 20th. Scotiabank raised their price objective on shares of First Majestic Silver from $12.50 to $23.00 and gave the stock a "sector perform" rating in a report on Monday, January 26th. Weiss Ratings restated a "hold (c-)" rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. Zacks Research raised shares of First Majestic Silver from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 19th. Finally, Wall Street Zen upgraded shares of First Majestic Silver from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $25.00.

First Majestic Silver Price Performance

Shares of AG opened at $19.14 on Tuesday. The firm has a fifty day simple moving average of $24.02 and a two-hundred day simple moving average of $17.31. The firm has a market cap of $9.44 billion, a PE ratio of 54.70 and a beta of 0.75. The company has a current ratio of 3.38, a quick ratio of 2.96 and a debt-to-equity ratio of 0.07. First Majestic Silver has a 1-year low of $5.18 and a 1-year high of $32.03.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its quarterly earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.03. First Majestic Silver had a return on equity of 7.41% and a net margin of 13.12%.The firm had revenue of $463.92 million for the quarter, compared to the consensus estimate of $561.30 million. During the same period last year, the business posted $0.03 EPS. The company's revenue for the quarter was up 169.2% on a year-over-year basis. On average, equities analysts anticipate that First Majestic Silver will post 0.54 EPS for the current year.

Institutional Investors Weigh In On First Majestic Silver

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC purchased a new position in First Majestic Silver during the fourth quarter valued at approximately $25,000. EFG International AG purchased a new stake in shares of First Majestic Silver in the fourth quarter worth $25,000. Spire Wealth Management bought a new stake in shares of First Majestic Silver during the 4th quarter valued at $35,000. Bogart Wealth LLC purchased a new position in shares of First Majestic Silver during the 3rd quarter valued at $28,000. Finally, Aventura Private Wealth LLC purchased a new position in shares of First Majestic Silver during the 4th quarter valued at $42,000. 27.16% of the stock is owned by hedge funds and other institutional investors.

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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