First Majestic Silver (NYSE:AG) Shares Up 7.6% - Time to Buy?

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR traded up 7.6% during trading on Tuesday . The stock traded as high as $6.13 and last traded at $6.15. 11,844,783 shares changed hands during trading, a decline of 29% from the average session volume of 16,780,662 shares. The stock had previously closed at $5.71.

Wall Street Analysts Forecast Growth

AG has been the topic of a number of research analyst reports. Scotiabank dropped their price target on First Majestic Silver from $6.50 to $6.00 and set a "sector perform" rating on the stock in a research note on Wednesday, January 15th. HC Wainwright reaffirmed a "buy" rating and set a $11.00 target price on shares of First Majestic Silver in a report on Friday, January 10th.

First Majestic Silver Stock Performance

The company has a fifty day moving average of $5.80 and a two-hundred day moving average of $6.02. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -20.80 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 3.03.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its earnings results on Thursday, November 7th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.12). First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. The business had revenue of $146.09 million during the quarter. As a group, equities research analysts predict that First Majestic Silver Corp. will post -0.16 earnings per share for the current fiscal year.

Institutional Trading of First Majestic Silver

Several large investors have recently modified their holdings of AG. Barclays PLC acquired a new position in First Majestic Silver during the third quarter valued at approximately $2,419,000. Realta Investment Advisors increased its stake in shares of First Majestic Silver by 16.8% in the 4th quarter. Realta Investment Advisors now owns 497,726 shares of the mining company's stock valued at $2,882,000 after purchasing an additional 71,456 shares during the last quarter. National Bank of Canada FI lifted its position in shares of First Majestic Silver by 18.0% during the 3rd quarter. National Bank of Canada FI now owns 683,627 shares of the mining company's stock worth $4,102,000 after buying an additional 104,092 shares during the last quarter. Raymond James & Associates lifted its position in shares of First Majestic Silver by 17.7% during the 3rd quarter. Raymond James & Associates now owns 558,096 shares of the mining company's stock worth $3,349,000 after buying an additional 83,867 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in First Majestic Silver in the third quarter valued at about $748,000. 27.16% of the stock is owned by institutional investors and hedge funds.

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.