First Majestic Silver (NYSE:AG) Upgraded at National Bank Financial

Key Points

• First Majestic Silver has been upgraded by National Bank Financial from a "hold" to a "strong-buy" rating, indicating increased analyst confidence in the stock's potential.
• Analysts have mixed opinions on the stock, with one strong buy, two buy ratings, and three holds, leading to a consensus rating of "Moderate Buy" with a price target of $14.17.
• Despite posting quarterly earnings that missed estimates, First Majestic Silver's revenue increased by 94% year-over-year, showcasing significant growth potential.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR was upgraded by analysts at National Bank Financial from a "hold" rating to a "strong-buy" rating in a report released on Sunday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of First Majestic Silver in a research note on Saturday, September 27th. Wall Street Zen raised shares of First Majestic Silver from a "hold" rating to a "buy" rating in a research note on Friday. National Bankshares set a $22.00 price objective on shares of First Majestic Silver and gave the stock an "outperform" rating in a research note on Monday. Scotiabank upped their price objective on shares of First Majestic Silver from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research note on Wednesday, July 9th. Finally, HC Wainwright increased their price target on shares of First Majestic Silver from $12.75 to $14.00 and gave the company a "buy" rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $14.17.

First Majestic Silver Stock Up 6.0%

Shares of AG opened at $12.84 on Friday. The company has a 50-day simple moving average of $9.76 and a 200-day simple moving average of $8.04. The firm has a market capitalization of $6.28 billion, a P/E ratio of -1,282.72 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.84 and a current ratio of 3.27. First Majestic Silver has a 52 week low of $5.09 and a 52 week high of $13.55.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its quarterly earnings data on Thursday, August 14th. The mining company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.02). The company had revenue of $264.20 million for the quarter, compared to analyst estimates of $387.25 million. First Majestic Silver had a net margin of 1.78% and a return on equity of 1.72%. The firm's quarterly revenue was up 94.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) EPS. On average, equities research analysts expect that First Majestic Silver will post 0.54 earnings per share for the current year.

Institutional Investors Weigh In On First Majestic Silver

Several hedge funds have recently bought and sold shares of AG. Parallel Advisors LLC raised its holdings in First Majestic Silver by 1,221.6% in the first quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company's stock worth $25,000 after purchasing an additional 3,506 shares during the period. AlphaQuest LLC acquired a new stake in First Majestic Silver in the first quarter worth $29,000. CWM LLC raised its holdings in First Majestic Silver by 57.2% in the second quarter. CWM LLC now owns 5,114 shares of the mining company's stock worth $42,000 after purchasing an additional 1,860 shares during the period. Banque Cantonale Vaudoise acquired a new stake in First Majestic Silver in the first quarter worth $46,000. Finally, American National Bank & Trust acquired a new stake in First Majestic Silver in the second quarter worth $66,000. 27.16% of the stock is currently 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.

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