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 research note issued Sunday.
• Analyst consensus remains mixed—one Strong Buy, four Buy and three Hold—resulting in a MarketBeat consensus of "Moderate Buy" with a $25.00 target price.
• Shares opened at $20.57 (market cap $10.14B) and the company reported Q earnings of $0.30 EPS, beating estimates while revenue of $463.9M missed expectations; the 52-week range is $5.49–$32.03.

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 research report issued to clients and investors on Sunday.

AG has been the subject of a number of other reports. Zacks Research downgraded shares of First Majestic Silver from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of First Majestic Silver in a research note on Wednesday, January 21st. HC Wainwright upped their price objective on shares of First Majestic Silver to $30.00 and gave the company a "buy" rating in a research note on Friday, February 20th. BMO Capital Markets raised shares of First Majestic Silver from a "market perform" rating to an "outperform" rating in a research note on Tuesday, March 24th. Finally, Scotiabank raised shares of First Majestic Silver to a "hold" rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company's stock. According to 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 Trading Up 1.6%

Shares of AG stock opened at $20.57 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.41 and a current ratio of 2.60. The company has a 50 day moving average price of $23.18 and a 200 day moving average price of $18.91. The stock has a market capitalization of $10.14 billion, a P/E ratio of 58.78 and a beta of 0.97. First Majestic Silver has a fifty-two week low of $5.49 and a fifty-two week high of $32.03.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lodestone Wealth Management LLC bought a new position in shares of First Majestic Silver in the fourth quarter valued at about $25,000. Harbor Investment Advisory LLC bought a new position in shares of First Majestic Silver in the first quarter valued at about $32,000. EFG International AG bought a new position in shares of First Majestic Silver in the fourth quarter valued at about $25,000. Spire Wealth Management bought a new position in shares of First Majestic Silver in the fourth quarter valued at about $35,000. Finally, Bogart Wealth LLC bought a new position in shares of First Majestic Silver in the third quarter valued at about $28,000. 27.16% of the stock is owned by institutional investors.

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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