First Majestic Silver (NYSE:AG) Price Target Raised to $12.75

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR had its target price upped by equities researchers at HC Wainwright from $11.50 to $12.75 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the mining company's stock. HC Wainwright's target price would indicate a potential upside of 37.54% from the company's previous close. HC Wainwright also issued estimates for First Majestic Silver's FY2025 earnings at $0.09 EPS and FY2026 earnings at $0.12 EPS.

AG has been the subject of a number of other research reports. National Bankshares reaffirmed a "sector perform" rating on shares of First Majestic Silver in a research note on Wednesday, April 2nd. National Bank Financial upgraded shares of First Majestic Silver to a "hold" rating in a report on Thursday, June 12th. Finally, Scotiabank lifted their target price on shares of First Majestic Silver from $6.00 to $6.50 and gave the company a "sector perform" rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $9.63.

First Majestic Silver Price Performance

Shares of AG stock traded up $0.63 on Thursday, reaching $9.27. The company's stock had a trading volume of 35,364,314 shares, compared to its average volume of 15,912,988. The company has a market capitalization of $4.49 billion, a P/E ratio of -31.96 and a beta of 0.82. First Majestic Silver has a 12-month low of $4.43 and a 12-month high of $9.33. The stock's 50 day simple moving average is $7.31 and its 200-day simple moving average is $6.45. The company has a quick ratio of 2.74, a current ratio of 3.19 and a debt-to-equity ratio of 0.08.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its quarterly earnings results on Wednesday, May 7th. The mining company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). First Majestic Silver had a negative return on equity of 0.14% and a negative net margin of 12.32%. The company had revenue of $241.12 million during the quarter, compared to analysts' expectations of $358.65 million. During the same period in the prior year, the firm earned ($0.05) EPS. First Majestic Silver's quarterly revenue was up 41.6% on a year-over-year basis. As a group, equities analysts predict that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

Institutional Trading of First Majestic Silver

Several institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of First Majestic Silver by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 565,982 shares of the mining company's stock valued at $3,109,000 after acquiring an additional 18,219 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in First Majestic Silver during the fourth quarter valued at approximately $2,442,000. Moors & Cabot Inc. lifted its stake in shares of First Majestic Silver by 19.6% in the 4th quarter. Moors & Cabot Inc. now owns 17,100 shares of the mining company's stock valued at $94,000 after purchasing an additional 2,800 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of First Majestic Silver in the 4th quarter worth approximately $981,000. Finally, Swiss National Bank increased its position in shares of First Majestic Silver by 4.0% during the 4th quarter. Swiss National Bank now owns 595,700 shares of the mining company's stock valued at $3,272,000 after purchasing an additional 23,100 shares during the last quarter. 27.16% of the stock is currently owned by institutional investors.

First Majestic Silver Company Profile

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.