First Majestic Silver (NYSE:AG) Earns Buy Rating from HC Wainwright

First Majestic Silver (NYSE:AG) (TSE:FR)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They presently have a $11.00 price target on the mining company’s stock. HC Wainwright’s price target points to a potential upside of 88.36% from the company’s previous close.

First Majestic Silver Trading Down 0.7 %

Shares of AG stock opened at $5.84 on Friday. First Majestic Silver has a fifty-two week low of $4.17 and a fifty-two week high of $8.44. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 3.03. The stock’s fifty day moving average is $6.09 and its two-hundred day moving average is $6.10. The firm has a market capitalization of $1.76 billion, a P/E ratio of -21.63 and a beta of 1.25.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results 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 business had revenue of $146.09 million during the quarter. Research analysts expect that First Majestic Silver will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC acquired a new stake in First Majestic Silver during the second quarter worth about $325,000. Choreo LLC raised its position in shares of First Majestic Silver by 267.1% during the 2nd quarter. Choreo LLC now owns 71,796 shares of the mining company’s stock valued at $414,000 after buying an additional 52,239 shares during the period. Rathbones Group PLC lifted its holdings in First Majestic Silver by 15.9% in the second quarter. Rathbones Group PLC now owns 54,107 shares of the mining company’s stock valued at $320,000 after acquiring an additional 7,415 shares during the last quarter. Dimensional Fund Advisors LP grew its position in First Majestic Silver by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,158,908 shares of the mining company’s stock worth $18,701,000 after acquiring an additional 103,232 shares during the period. Finally, Hsbc Holdings PLC increased its stake in First Majestic Silver by 7.7% during the second quarter. Hsbc Holdings PLC now owns 103,002 shares of the mining company’s stock worth $610,000 after acquiring an additional 7,371 shares during 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.