First Majestic Silver (TSE:AG) Trading Up 8.3% – Here’s Why

First Majestic Silver Corp. (TSE:AG)’s stock price shot up 8.3% during mid-day trading on Thursday . The company traded as high as C$34.05 and last traded at C$33.55. 625,151 shares traded hands during trading, a decline of 74% from the average session volume of 2,380,639 shares. The stock had previously closed at C$30.98.

Analyst Ratings Changes

A number of research firms have recently weighed in on AG. Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 6th. TD Securities upped their price objective on shares of First Majestic Silver from C$22.00 to C$36.00 in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$30.60.

First Majestic Silver Price Performance

The business’s fifty day moving average price is C$27.62 and its 200 day moving average price is C$20.12. The stock has a market cap of C$16.37 billion, a P/E ratio of 238.57 and a beta of 2.10.

First Majestic Silver (TSE:AG) last issued its earnings results on Thursday, February 19th. The company reported C$0.41 earnings per share for the quarter. The firm had revenue of C$621.00 million for the quarter. First Majestic Silver had a negative net margin of 14.81% and a negative return on equity of 5.74%. On average, analysts predict that First Majestic Silver Corp. will post 0.4623323 earnings per share for the current fiscal year.

About First Majestic Silver

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.