Weiss Ratings Reiterates Hold (C-) Rating for First Majestic Silver (NYSE:AG)

Key Points

• Weiss Ratings has reiterated a Hold (C-) rating for First Majestic Silver (NYSE:AG), despite varying opinions from other analysts.
• Analysts' ratings for First Majestic Silver include one Strong Buy, three Buy, and three Hold ratings, with an average price target of $14.17.
• First Majestic Silver reported a loss of $0.02 per share against an expected profit, with revenue for the quarter at $264.20 million, missing the consensus estimate by approximately $123 million.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR's stock had its "hold (c-)" rating reiterated by analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also issued reports on the company. National Bankshares set a $22.00 price target on First Majestic Silver and gave the stock an "outperform" rating in a research note on Monday. TD Securities raised First Majestic Silver from a "hold" rating to a "buy" rating in a research note on Wednesday. BMO Capital Markets reaffirmed a "market perform" rating on shares of First Majestic Silver in a research note on Tuesday. HC Wainwright lifted their price target on First Majestic Silver from $12.75 to $14.00 and gave the stock a "buy" rating in a research note on Monday. Finally, National Bank Financial upgraded First Majestic Silver from a "hold" rating to a "strong-buy" rating in a report on Sunday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $14.17.

First Majestic Silver Price Performance

AG traded up $1.39 on Wednesday, reaching $14.08. The company had a trading volume of 20,871,363 shares, compared to its average volume of 21,280,227. The business has a 50 day simple moving average of $9.84 and a 200 day simple moving average of $8.07. The company has a market cap of $6.90 billion, a price-to-earnings ratio of -1,409.79 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.84 and a current ratio of 3.27. First Majestic Silver has a 52-week low of $5.09 and a 52-week high of $14.11.

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

Institutional Trading of First Majestic Silver

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AlphaQuest LLC purchased a new stake in shares of First Majestic Silver in the 1st quarter worth approximately $29,000. CWM LLC grew its stake in shares of First Majestic Silver by 57.2% in the 2nd quarter. CWM LLC now owns 5,114 shares of the mining company's stock worth $42,000 after buying an additional 1,860 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of First Majestic Silver in the 1st quarter worth approximately $46,000. American National Bank & Trust purchased a new stake in shares of First Majestic Silver in the 2nd quarter worth approximately $66,000. Finally, Focus Financial Network Inc. bought a new position in First Majestic Silver in the 1st quarter valued at approximately $67,000. Hedge funds and other institutional investors own 27.16% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.