First Majestic Silver (TSE:AG) Shares Up 0.1% - Should You Buy?

Key Points

• First Majestic Silver Corp. saw its share price increase by 0.1% to C$12.25, with trading volume slightly down from the average at approximately 1.37 million shares.
• ATB Capital upgraded the stock from a "sector perform" to an "outperform" rating, raising the target price from C$47.00 to C$52.00.
• The company's market capitalization stands at C$4.14 billion with a P/E ratio of -31.76, indicating challenging earnings performance relative to its stock price.

First Majestic Silver Corp. (TSE:AG - Get Free Report) shares traded up 0.1% during mid-day trading on Friday . The stock traded as high as C$12.59 and last traded at C$12.25. 1,365,228 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 1,386,534 shares. The stock had previously closed at C$12.24.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. ATB Capital raised shares of First Majestic Silver from a "sector perform" rating to an "outperform" rating and upped their price target for the company from C$47.00 to C$52.00 in a report on Wednesday, August 6th. National Bank Financial upgraded shares of First Majestic Silver to a "hold" rating in a research note on Thursday, June 12th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, First Majestic Silver currently has an average rating of "Hold" and a consensus target price of C$22.17.

First Majestic Silver Stock Performance

The company has a market capitalization of C$4.10 billion, a price-to-earnings ratio of -31.40 and a beta of 1.36. The stock's fifty day simple moving average is C$11.63 and its two-hundred day simple moving average is C$9.76.

First Majestic Silver Company Profile

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.