First Majestic Silver (NYSE:AG) Upgraded to Hold at StockNews.com

First Majestic Silver (NYSE:AG) (TSE:FR) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

A number of other research analysts have also issued reports on the stock. Scotiabank reduced their target price on shares of First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 15th. HC Wainwright reissued a “buy” rating and set a $11.00 price objective on shares of First Majestic Silver in a research note on Friday.

First Majestic Silver Price Performance

Shares of AG traded down $0.22 during mid-day trading on Friday, reaching $5.55. 25,372,832 shares of the company’s stock were exchanged, compared to its average volume of 18,162,666. The company has a quick ratio of 2.45, a current ratio of 3.03 and a debt-to-equity ratio of 0.16. First Majestic Silver has a 52-week low of $4.28 and a 52-week high of $8.44. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -20.54 and a beta of 1.24. The company has a 50-day simple moving average of $5.68 and a two-hundred day simple moving average of $6.01.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Thursday, February 20th. The mining company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). 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 $172.34 million for the quarter, compared to analysts’ expectations of $227.77 million. On average, sell-side analysts predict that First Majestic Silver will post -0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.