Scotiabank Reaffirms "Sector Perform" Rating for First Majestic Silver (NYSE:AG)

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR's stock had its "sector perform" rating reaffirmed by analysts at Scotiabank in a note issued to investors on Wednesday, Stock Target Advisor reports. They currently have a $6.00 price target on the mining company's stock. Scotiabank's target price indicates a potential upside of 10.74% from the company's current price.

Other research analysts have also recently issued reports about the company. TD Securities raised First Majestic Silver to a "hold" rating in a research report on Monday, March 10th. HC Wainwright restated a "buy" rating and set a $11.00 target price on shares of First Majestic Silver in a research note on Friday, February 21st. Finally, StockNews.com upgraded shares of First Majestic Silver from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, First Majestic Silver has an average rating of "Hold" and a consensus price target of $8.50.

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First Majestic Silver Stock Performance

AG stock traded down $0.16 during trading on Wednesday, reaching $5.42. The stock had a trading volume of 16,417,293 shares, compared to its average volume of 11,428,897. The firm has a market cap of $2.62 billion, a PE ratio of -15.48 and a beta of 0.97. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16. The stock's 50 day moving average is $6.04 and its two-hundred day moving average is $6.20. First Majestic Silver has a 52 week low of $4.43 and a 52 week high of $8.44.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its earnings results on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. The business had revenue of $172.34 million for the quarter, compared to analysts' expectations of $227.77 million. As a group, equities analysts anticipate that First Majestic Silver will post 0.54 earnings per share for the current year.

Institutional Trading of First Majestic Silver

Hedge funds have recently bought and sold shares of the stock. Barclays PLC purchased a new stake in shares of First Majestic Silver in the third quarter worth about $2,419,000. Realta Investment Advisors raised its holdings in shares of First Majestic Silver by 16.8% during the 4th quarter. Realta Investment Advisors now owns 497,726 shares of the mining company's stock worth $2,882,000 after acquiring an additional 71,456 shares in the last quarter. National Bank of Canada FI boosted 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 valued at $4,102,000 after acquiring an additional 104,092 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in First Majestic Silver in the third quarter worth $748,000. Finally, Charles Schwab Investment Management Inc. raised its stake in First Majestic Silver by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 565,982 shares of the mining company's stock valued at $3,109,000 after purchasing an additional 18,219 shares in the last quarter. Hedge funds and other 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.