First Majestic Silver (NYSE:AG) Upgraded to "Buy" at Wall Street Zen

Key Points

• First Majestic Silver has been upgraded to a "buy" rating by Wall Street Zen, moving from a previous "hold" rating.
• The stock has a consensus price target of $9.63, with varying ratings from different analysts: one buy, five holds, and several price target adjustments.
• For the most recent quarter, the company reported a revenue increase of 94% year-over-year but missed EPS estimates with a report of $0.04 compared to the expected $0.06.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Friday.

AG has been the subject of several other research reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of First Majestic Silver in a report on Saturday, September 27th. Scotiabank upped their price target on First Majestic Silver from $6.00 to $6.50 and gave the stock a "sector perform" rating in a report on Wednesday, July 9th. National Bank Financial upgraded First Majestic Silver to a "hold" rating in a report on Thursday, June 12th. Finally, HC Wainwright reiterated a "buy" rating and set a $12.75 price target on shares of First Majestic Silver in a report on Friday, August 15th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $9.63.

First Majestic Silver Stock Up 0.4%

Shares of NYSE AG traded up $0.05 during midday trading on Friday, hitting $12.11. 23,295,759 shares of the stock traded hands, compared to its average volume of 25,037,754. The company has a market cap of $5.92 billion, a PE ratio of -1,209.49 and a beta of 0.76. First Majestic Silver has a one year low of $5.09 and a one year high of $13.00. The business has a 50 day moving average price of $9.67 and a two-hundred day moving average price of $7.99. 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 (NYSE:AG - Get Free Report) TSE: FR last released its quarterly earnings data on Thursday, August 14th. The mining company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). First Majestic Silver had a net margin of 1.78% and a return on equity of 1.72%. The firm had revenue of $264.20 million for the quarter, compared to the consensus estimate of $387.25 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. The company's revenue was up 94.0% compared to the same quarter last year. On average, equities analysts predict that First Majestic Silver will post 0.54 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. purchased a new position in First Majestic Silver in the second quarter worth $162,000. Newbridge Financial Services Group Inc. purchased a new position in shares of First Majestic Silver during the 2nd quarter valued at $425,000. Marex Group plc purchased a new position in shares of First Majestic Silver during the 2nd quarter valued at $224,000. Geneos Wealth Management Inc. lifted its position in shares of First Majestic Silver by 33.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 135,227 shares of the mining company's stock valued at $1,118,000 after buying an additional 33,575 shares during the last quarter. Finally, FORA Capital LLC lifted its position in shares of First Majestic Silver by 1,216.2% during the 2nd quarter. FORA Capital LLC now owns 340,695 shares of the mining company's stock valued at $2,818,000 after buying an additional 314,811 shares during the last quarter. Hedge funds and other institutional investors own 27.16% of the company's stock.

About First Majestic Silver

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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