First Majestic Silver's (AG) "Buy" Rating Reaffirmed at HC Wainwright

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR's stock had its "buy" rating reiterated by research analysts at HC Wainwright in a note issued to investors on Friday, MarketBeat reports. They currently have a $8.50 target price on the mining company's stock. HC Wainwright's target price would suggest a potential upside of 16.44% from the stock's current price.

Separately, Cormark raised First Majestic Silver from a "hold" rating to a "moderate buy" rating in a report on Friday, September 6th.

First Majestic Silver Price Performance

AG stock traded up $0.97 during midday trading on Friday, hitting $7.30. The company's stock had a trading volume of 19,189,841 shares, compared to its average volume of 8,085,793. The company has a quick ratio of 2.44, a current ratio of 3.05 and a debt-to-equity ratio of 0.17. First Majestic Silver has a 12 month low of $4.17 and a 12 month high of $8.44. The company has a 50 day moving average of $5.90 and a two-hundred day moving average of $6.37. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -45.63 and a beta of 1.36.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its earnings results on Thursday, August 1st. The mining company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.05). The company had revenue of $136.20 million for the quarter, compared to the consensus estimate of $129.74 million. First Majestic Silver had a negative return on equity of 4.39% and a negative net margin of 15.37%. First Majestic Silver's revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.02) EPS. On average, analysts expect that First Majestic Silver will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. purchased a new stake in First Majestic Silver during the first quarter valued at approximately $48,000. United Capital Management of KS Inc. purchased a new stake in First Majestic Silver during the 1st quarter valued at $162,000. Van ECK Associates Corp lifted its position in First Majestic Silver by 5.1% in the first quarter. Van ECK Associates Corp now owns 31,876,555 shares of the mining company's stock worth $187,433,000 after buying an additional 1,534,710 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in First Majestic Silver by 15.5% during the first quarter. Geneos Wealth Management Inc. now owns 78,327 shares of the mining company's stock worth $461,000 after buying an additional 10,500 shares during the period. Finally, Oxbow Advisors LLC bought a new position in First Majestic Silver during the first quarter valued at $111,000. 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.