First Majestic Silver (NYSE:AG) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded First Majestic Silver (NYSE:AG) from "strong-buy" to "buy"; the stock's consensus from analysts is a Moderate Buy with an average price target of $25.00.
• The company beat EPS expectations for the quarter ($0.30 vs. $0.27) but missed revenue ($463.9M vs. $561.3M); First Majestic has a market cap of ~$9.78B, a P/E of 56.7, and a 52‑week range of $5.49–$32.03.
• Institutional investors own about 27.16% of the stock with several small new stakes recently reported, and the shares were trading near $19.85 with a 50‑day/200‑day SMA of $22.91/$19.11.

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

AG has been the subject of several other reports. BMO Capital Markets upgraded shares of First Majestic Silver from a "market perform" rating to an "outperform" rating in a research note on Tuesday, March 24th. Zacks Research cut shares of First Majestic Silver from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. HC Wainwright upped their target price on shares of First Majestic Silver to $30.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Weiss Ratings reiterated a "hold (c-)" rating on shares of First Majestic Silver in a research note on Wednesday, January 21st. Finally, Scotiabank upgraded shares of First Majestic Silver to a "hold" rating in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $25.00.

First Majestic Silver Price Performance

NYSE AG opened at $19.85 on Monday. The company has a current ratio of 2.60, a quick ratio of 2.41 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $22.91 and a 200 day simple moving average of $19.11. The company has a market cap of $9.78 billion, a P/E ratio of 56.70 and a beta of 0.85. First Majestic Silver has a 1 year low of $5.49 and a 1 year high of $32.03.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly earnings data on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. The business had revenue of $463.92 million during the quarter, compared to the consensus estimate of $561.30 million. First Majestic Silver had a net margin of 13.12% and a return on equity of 7.25%. First Majestic Silver's quarterly revenue was up 169.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 EPS. On average, sell-side analysts predict that First Majestic Silver will post 0.72 EPS for the current year.

Institutional Investors Weigh In On First Majestic Silver

Large investors have recently made changes to their positions in the company. Lodestone Wealth Management LLC bought a new stake in First Majestic Silver during the 4th quarter worth about $25,000. EFG International AG bought a new stake in First Majestic Silver during the 4th quarter worth about $25,000. Bogart Wealth LLC bought a new stake in First Majestic Silver during the 3rd quarter worth about $28,000. Harbor Investment Advisory LLC bought a new stake in First Majestic Silver during the 1st quarter worth about $32,000. Finally, Spire Wealth Management bought a new stake in First Majestic Silver during the 4th quarter worth about $35,000. 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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