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

Key Points

• Wall Street Zen downgraded First Majestic Silver from “buy” to “hold,” adding to a mixed analyst picture for the stock.
• Despite the downgrade, the broader analyst consensus remains “Moderate Buy” with a $23.50 price target, though several firms have recently trimmed ratings or targets.
• The company’s latest quarter showed revenue up 95.3% year over year, but EPS of $0.31 missed estimates and revenue came in below expectations.

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

A number of other research firms have also weighed in on AG. Scotiabank lowered their target price on First Majestic Silver from $23.00 to $22.50 and set a "sector perform" rating for the company in a report on Tuesday, July 14th. Weiss Ratings downgraded First Majestic Silver from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, June 5th. ATB Cormark Capital Markets upgraded shares of First Majestic Silver from a "hold" rating to a "moderate buy" rating in a report on Friday, July 10th. HC Wainwright lowered their price target on shares of First Majestic Silver from $30.75 to $26.00 and set a "buy" rating on the stock in a report on Friday, July 10th. Finally, Zacks Research lowered shares of First Majestic Silver from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, First Majestic Silver has a consensus rating of "Moderate Buy" and a consensus price target of $23.50.

First Majestic Silver Stock Down 0.9%

Shares of First Majestic Silver stock opened at $16.30 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.73 and a quick ratio of 2.54. First Majestic Silver has a 1 year low of $7.74 and a 1 year high of $32.03. The firm's 50-day moving average is $17.85 and its two-hundred day moving average is $20.86. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 27.18 and a beta of 0.91.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly earnings results on Tuesday, May 12th. The mining company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.02). First Majestic Silver had a net margin of 19.51% and a return on equity of 11.19%. The business had revenue of $476.67 million during the quarter, compared to the consensus estimate of $522.00 million. During the same quarter in the prior year, the firm posted $0.05 EPS. The company's revenue for the quarter was up 95.3% compared to the same quarter last year. As a group, research analysts expect that First Majestic Silver will post 0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Majestic Silver

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AG. Lodestone Wealth Management LLC acquired a new position in shares of First Majestic Silver in the fourth quarter valued at about $25,000. EFG International AG purchased a new stake in First Majestic Silver in the fourth quarter valued at approximately $25,000. Harbor Investment Advisory LLC acquired a new position in First Majestic Silver in the 1st quarter worth approximately $32,000. PNC Financial Services Group Inc. raised its position in First Majestic Silver by 184.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company's stock worth $32,000 after buying an additional 978 shares during the last quarter. Finally, Spire Wealth Management purchased a new position in First Majestic Silver during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 27.16% of the company's stock.

First Majestic Silver Company Profile

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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