HC Wainwright Reaffirms Buy Rating for First Majestic Silver (NYSE:AG)

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR's stock had its "buy" rating reiterated by equities researchers at HC Wainwright in a report issued on Friday,Benzinga reports. They presently have a $11.00 target price on the mining company's stock. HC Wainwright's price target points to a potential upside of 88.36% from the company's current price.

First Majestic Silver Stock Performance

NYSE AG traded down $0.04 during trading hours on Friday, reaching $5.84. The company's stock had a trading volume of 14,481,511 shares, compared to its average volume of 13,921,834. The company has a current ratio of 3.03, a quick ratio of 2.45 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.76 billion, a PE ratio of -21.63 and a beta of 1.25. First Majestic Silver has a 52 week low of $4.17 and a 52 week high of $8.44. The business has a 50-day simple moving average of $6.12 and a 200 day simple moving average of $6.10.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly earnings data on Thursday, November 7th. The mining company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.12). First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. The company had revenue of $146.09 million during the quarter. Equities research analysts predict that First Majestic Silver will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of First Majestic Silver

Several large investors have recently modified their holdings of AG. Van ECK Associates Corp grew its stake in shares of First Majestic Silver by 2.7% in the 3rd quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company's stock valued at $173,478,000 after purchasing an additional 764,790 shares during the period. Marshall Wace LLP bought a new stake in shares of First Majestic Silver during the second quarter worth $3,904,000. Barclays PLC acquired a new stake in shares of First Majestic Silver during the 3rd quarter worth approximately $2,419,000. Quantbot Technologies LP bought a new stake in shares of First Majestic Silver during the 3rd quarter valued at $2,057,000. Finally, XTX Topco Ltd lifted its stake in First Majestic Silver by 1,510.1% in the third quarter. XTX Topco Ltd now owns 271,748 shares of the mining company's stock valued at $1,630,000 after buying an additional 254,870 shares during the period. 27.16% of the stock is owned by institutional investors.

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.