First Majestic Silver (NYSE:AG) Raised to Hold at TD Securities

First Majestic Silver (NYSE:AG) (TSE:FR) was upgraded by equities researchers at TD Securities to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Scotiabank reduced their target price on shares of First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 15th. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 target price on shares of First Majestic Silver in a research report on Friday, February 21st. Finally, StockNews.com raised shares of First Majestic Silver from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, First Majestic Silver presently has an average rating of “Hold” and an average target price of $8.50.

First Majestic Silver Stock Up 10.4 %

Shares of First Majestic Silver stock opened at $6.13 on Monday. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $5.68 and its two-hundred day simple moving average is $6.04. The company has a market cap of $2.97 billion, a P/E ratio of -17.50 and a beta of 1.16. First Majestic Silver has a 12-month low of $4.43 and a 12-month high of $8.44.

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

Hedge Funds Weigh In On First Majestic Silver

A number of hedge funds have recently bought and sold shares of the company. Tidal Investments LLC lifted its stake in First Majestic Silver by 135.2% during the 4th quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company’s stock valued at $74,647,000 after acquiring an additional 7,816,177 shares during the period. Vanguard Group Inc. lifted its stake in First Majestic Silver by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 11,423,691 shares of the mining company’s stock valued at $62,784,000 after acquiring an additional 598,996 shares during the period. Two Sigma Investments LP lifted its stake in 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 valued at $24,463,000 after acquiring an additional 1,420,937 shares during the period. Renaissance Technologies LLC lifted its stake 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 valued at $20,638,000 after acquiring an additional 3,382,443 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in First Majestic Silver by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,472,159 shares of the mining company’s stock valued at $19,060,000 after acquiring an additional 121,892 shares during the period. Institutional investors 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.