HC Wainwright Raises First Majestic Silver (NYSE:AG) Price Target to $14.00

Key Points

• HC Wainwright has increased its price target for First Majestic Silver from $12.75 to $14.00, implying a potential upside of 15.64% from the stock’s previous close.
• Several analysts have issued varying ratings, with two giving a "Buy" rating and four suggesting a "Hold," resulting in a consensus rating of "Hold" with an average target price of $14.17.
• In its latest quarterly earnings, First Majestic Silver reported $0.04 EPS, missing estimates and generating revenues of $264.20 million, compared to analysts' expectations of $387.25 million.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR had its price target upped by HC Wainwright from $12.75 to $14.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the mining company's stock. HC Wainwright's target price would suggest a potential upside of 15.64% from the company's previous close.

A number of other equities analysts have also recently issued reports on the stock. Scotiabank upped their price target on shares of First Majestic Silver from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research note on Wednesday, July 9th. National Bankshares set a $22.00 price objective on shares of First Majestic Silver and gave the company an "outperform" rating in a report on Monday. Weiss Ratings reiterated a "hold (c-)" rating on shares of First Majestic Silver in a research note on Saturday, September 27th. Wall Street Zen upgraded shares of First Majestic Silver from a "hold" rating to a "buy" rating in a research note on Friday. Finally, National Bank Financial raised shares of First Majestic Silver to a "hold" rating in a research report on Thursday, June 12th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $14.17.

First Majestic Silver Trading Up 0.4%

Shares of NYSE AG opened at $12.11 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.27 and a quick ratio of 2.84. The stock has a market cap of $5.92 billion, a P/E ratio of -1,209.49 and a beta of 0.76. The firm has a 50-day moving average of $9.67 and a 200 day moving average of $8.00. First Majestic Silver has a 1 year low of $5.09 and a 1 year high of $13.00.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly earnings results on Thursday, August 14th. The mining company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $264.20 million during the quarter, compared to analysts' expectations of $387.25 million. First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.The business's quarterly revenue was up 94.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.07) EPS. As a group, sell-side analysts expect that First Majestic Silver will post 0.54 EPS for the current fiscal year.

Institutional Trading of First Majestic Silver

A number of institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. lifted its position in First Majestic Silver by 6.1% in the second quarter. SBI Securities Co. Ltd. now owns 22,357 shares of the mining company's stock worth $185,000 after buying an additional 1,282 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of First Majestic Silver by 7.3% during the second quarter. Harbour Investments Inc. now owns 23,696 shares of the mining company's stock worth $196,000 after purchasing an additional 1,620 shares during the last quarter. CWM LLC lifted its position in shares of First Majestic Silver by 57.2% during the second quarter. CWM LLC now owns 5,114 shares of the mining company's stock worth $42,000 after purchasing an additional 1,860 shares during the last quarter. Rathbones Group PLC lifted its position in shares of First Majestic Silver by 3.3% during the first quarter. Rathbones Group PLC now owns 58,732 shares of the mining company's stock worth $393,000 after purchasing an additional 1,880 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its position in shares of First Majestic Silver by 9.2% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 23,703 shares of the mining company's stock worth $196,000 after purchasing an additional 2,001 shares during the last quarter. 27.16% of the stock is currently owned by institutional investors.

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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