ValuEngine Lowers First Majestic Silver (AG) to Sell

First Majestic Silver (NYSE:AG) (TSE:FR) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, November 10th.

Several other equities research analysts have also recently issued reports on AG. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of First Majestic Silver in a research note on Friday, August 4th. Zacks Investment Research raised shares of First Majestic Silver from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a research note on Friday, October 20th. Scotiabank lowered their target price on shares of First Majestic Silver from $11.50 to $9.75 and set a “sector perform” rating on the stock in a research note on Friday, November 3rd. Finally, BidaskClub cut shares of First Majestic Silver from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. First Majestic Silver presently has a consensus rating of “Hold” and an average price target of $10.50.

First Majestic Silver (NYSE AG) traded down $0.07 during trading on Friday, reaching $6.59. 2,239,000 shares of the company were exchanged, compared to its average volume of 3,868,276. First Majestic Silver has a 1 year low of $5.92 and a 1 year high of $10.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.38 and a current ratio of 3.77.

Several hedge funds and other institutional investors have recently bought and sold shares of AG. Legal & General Group Plc raised its holdings in First Majestic Silver by 123.3% in the 1st quarter. Legal & General Group Plc now owns 27,163 shares of the mining company’s stock valued at $220,000 after buying an additional 15,000 shares during the period. Vanguard Group Inc. raised its holdings in First Majestic Silver by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 3,174,733 shares of the mining company’s stock valued at $25,778,000 after buying an additional 178,404 shares during the period. Morgan Stanley raised its holdings in First Majestic Silver by 68.3% in the 1st quarter. Morgan Stanley now owns 944,449 shares of the mining company’s stock valued at $7,668,000 after buying an additional 383,398 shares during the period. Renaissance Technologies LLC purchased a new stake in First Majestic Silver in the 1st quarter valued at about $1,229,000. Finally, Credit Suisse AG raised its holdings in First Majestic Silver by 20.9% in the 1st quarter. Credit Suisse AG now owns 330,191 shares of the mining company’s stock valued at $2,681,000 after buying an additional 57,011 shares during the period. Institutional investors and hedge funds own 30.06% of the company’s stock.

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First Majestic Silver Company Profile

First Majestic Silver Corp. is a mining company. The Company is focused on silver production in Mexico and it is pursuing the development of its existing mineral property assets. The Company operates through eight segments, six of which are located in Mexico; one retail market segment in Canada, and one metal trading segment in Europe.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for First Majestic Silver (NYSE:AG)

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