First Majestic Silver (NYSE:AG) Earns Sector Perform Rating from Scotiabank

First Majestic Silver (NYSE:AG) (TSE:FR)‘s stock had its “sector perform” rating reaffirmed by equities researchers at Scotiabank in a report released on Wednesday, Stock Target Advisor reports. They currently have a $6.00 target price on the mining company’s stock. Scotiabank’s price objective indicates a potential downside of 9.84% from the company’s previous close.

Several other research firms have also recently weighed in on AG. StockNews.com upgraded First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price target on shares of First Majestic Silver in a research note on Friday, February 21st. Finally, TD Securities raised shares of First Majestic Silver to a “hold” rating in a research report on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.50.

First Majestic Silver Trading Up 0.4 %

NYSE:AG traded up $0.03 during trading hours on Wednesday, hitting $6.66. The stock had a trading volume of 6,608,922 shares, compared to its average volume of 11,368,897. The business’s 50 day moving average is $6.00 and its 200-day moving average is $6.19. The company has a market cap of $3.22 billion, a price-to-earnings ratio of -18.99 and a beta of 1.16. First Majestic Silver has a one year low of $4.43 and a one year high of $8.44. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.12 and a current ratio of 2.56.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The firm had revenue of $172.34 million during the quarter, compared to the consensus estimate of $227.77 million. First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. Sell-side analysts anticipate that First Majestic Silver will post 0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On First Majestic Silver

Large investors have recently bought and sold shares of the company. Tidal Investments LLC boosted its holdings in First Majestic Silver by 135.2% during the fourth quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company’s stock worth $74,647,000 after purchasing an additional 7,816,177 shares during the last quarter. Renaissance Technologies LLC lifted its position in First Majestic Silver by 897.8% during the 4th quarter. Renaissance Technologies LLC now owns 3,759,181 shares of the mining company’s stock worth $20,638,000 after buying an additional 3,382,443 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of First Majestic Silver by 46.8% during the 4th quarter. Two Sigma Investments LP now owns 4,455,923 shares of the mining company’s stock worth $24,463,000 after buying an additional 1,420,937 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of First Majestic Silver by 115.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 1,520,359 shares of the mining company’s stock valued at $8,347,000 after acquiring an additional 814,153 shares in the last quarter. Finally, Trexquant Investment LP increased its position in shares of First Majestic Silver by 161.0% in the fourth quarter. Trexquant Investment LP now owns 1,026,729 shares of the mining company’s stock valued at $5,637,000 after acquiring an additional 633,413 shares during the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

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.