First Majestic Silver (NYSE:AG) Upgraded by Scotiabank to Hold Rating

Key Points

• Scotiabank upgraded First Majestic Silver to a "hold" rating, and the stock's consensus among analysts is a Moderate Buy with an average target price of $25.00.
• In the latest quarter the company reported $0.30 EPS (beating estimates by $0.03) and revenue of $463.9M—up 169% year‑over‑year but below consensus—while shares trade around $20.57 with a 52‑week range of $5.49–$32.03 and a market cap near $10.1B.
• Analyst views are mixed: HC Wainwright raised its price target to $30 and rates the stock "buy," BMO upgraded to "outperform," while Zacks and Wall Street Zen recently trimmed ratings, indicating divergent expectations among brokers.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR was upgraded by stock analysts at Scotiabank to a "hold" rating in a report released on Thursday,Zacks.com reports.

Other analysts also recently issued research reports about the company. HC Wainwright lifted their price target on First Majestic Silver to $30.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Wall Street Zen downgraded First Majestic Silver from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 18th. Weiss Ratings reiterated a "hold (c-)" rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. BMO Capital Markets upgraded First Majestic Silver from a "market perform" rating to an "outperform" rating in a research report on Tuesday, March 24th. Finally, Zacks Research downgraded First Majestic Silver from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, First Majestic Silver presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.00.

First Majestic Silver Stock Up 1.6%

Shares of NYSE AG opened at $20.57 on Thursday. First Majestic Silver has a 52 week low of $5.49 and a 52 week high of $32.03. The business has a 50-day simple moving average of $23.18 and a two-hundred day simple moving average of $18.87. The company has a quick ratio of 2.41, a current ratio of 2.60 and a debt-to-equity ratio of 0.09. The company has a market cap of $10.14 billion, a P/E ratio of 58.78 and a beta of 0.97.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its earnings results on Thursday, February 19th. The mining company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. First Majestic Silver had a return on equity of 7.25% and a net margin of 13.12%.The business had revenue of $463.92 million during the quarter, compared to the consensus estimate of $561.30 million. During the same quarter last year, the company earned $0.03 EPS. The firm's revenue was up 169.2% compared to the same quarter last year. Research analysts anticipate that First Majestic Silver will post 0.7 earnings per share for the current fiscal year.

Institutional Trading of First Majestic Silver

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harbor Investment Advisory LLC bought a new position in First Majestic Silver during the first quarter valued at approximately $32,000. Louisbourg Investments Inc. bought a new position in First Majestic Silver during the first quarter valued at approximately $5,982,000. Pictet Asset Management Holding SA grew its position in First Majestic Silver by 127.6% during the first quarter. Pictet Asset Management Holding SA now owns 182,238 shares of the mining company's stock valued at $3,905,000 after acquiring an additional 102,167 shares during the last quarter. RFG Advisory LLC grew its position in First Majestic Silver by 21.6% during the first quarter. RFG Advisory LLC now owns 147,127 shares of the mining company's stock valued at $3,160,000 after acquiring an additional 26,101 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its position in First Majestic Silver by 13.2% during the first quarter. AdvisorNet Financial Inc now owns 6,878 shares of the mining company's stock valued at $148,000 after acquiring an additional 804 shares during the last quarter. 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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