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

Key Points

• Wall Street Zen upgraded First Majestic Silver (NYSE:AG) from a "buy" to a strong-buy rating in a note to investors.
• Analyst consensus shows one Strong Buy, four Buys and three Holds, giving an average rating of Moderate Buy with an average target price of $25.00.
• In the latest quarter AG delivered an EPS beat of $0.30 versus $0.27 expected, but revenue missed at $463.9M versus $561.3M, despite revenue rising 169.2% year‑over‑year.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday.

A number of other analysts have also recently weighed in on the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. Zacks Research lowered shares of First Majestic Silver from a "strong-buy" rating to a "hold" rating in a report on Tuesday. BMO Capital Markets raised shares of First Majestic Silver from a "market perform" rating to an "outperform" rating in a report on Tuesday, March 24th. HC Wainwright boosted their price target on shares of First Majestic Silver to $30.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Finally, Scotiabank raised their price objective on shares of First Majestic Silver from $12.50 to $23.00 and gave the stock a "sector perform" rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.00.

First Majestic Silver Stock Down 0.1%

Shares of AG stock opened at $21.83 on Friday. First Majestic Silver has a one year low of $5.18 and a one year high of $32.03. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.38 and a quick ratio of 2.96. The stock has a fifty day moving average price of $23.83 and a 200 day moving average price of $17.89. The stock has a market cap of $10.76 billion, a P/E ratio of 62.37 and a beta of 0.97.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its quarterly earnings data on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.03. First Majestic Silver had a net margin of 13.12% and a return on equity of 7.41%. The company had revenue of $463.92 million during the quarter, compared to analysts' expectations of $561.30 million. During the same quarter in the prior year, the company posted $0.03 EPS. The business's revenue was up 169.2% on a year-over-year basis. Analysts predict that First Majestic Silver will post 0.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lodestone Wealth Management LLC bought a new position in shares of First Majestic Silver in the fourth quarter worth about $25,000. EFG International AG acquired a new stake in shares of First Majestic Silver in the fourth quarter valued at approximately $25,000. Spire Wealth Management bought a new position in First Majestic Silver in the 4th quarter worth approximately $35,000. Bogart Wealth LLC bought a new position in First Majestic Silver in the 3rd quarter worth approximately $28,000. Finally, Aventura Private Wealth LLC acquired a new position in First Majestic Silver during the 4th quarter worth $42,000. Institutional investors and hedge funds 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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