First Majestic Silver (NYSE:AG) Stock Rating Upgraded by 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 report issued on Friday.

Several other analysts have also weighed in on the company. HC Wainwright reissued a “buy” rating and set a $11.00 price objective on shares of First Majestic Silver in a report on Friday. Scotiabank decreased 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.

First Majestic Silver Stock Performance

AG opened at $5.55 on Friday. The firm has a market capitalization of $1.73 billion, a P/E ratio of -15.84 and a beta of 1.24. The stock’s 50 day moving average price is $5.67 and its two-hundred day moving average price is $6.02. 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 12-month low of $4.28 and a 12-month high of $8.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, February 20th. The mining company reported $0.03 earnings per share (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 3.06%. The business had revenue of $172.34 million during the quarter, compared to analyst estimates of $227.77 million. On average, equities analysts forecast that First Majestic Silver will post 0.54 earnings per share for the current year.

Hedge Funds Weigh In On First Majestic Silver

Several institutional investors have recently bought and sold shares of AG. Tidal Investments LLC raised its position in First Majestic Silver by 135.2% in the 4th quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company’s stock valued at $74,647,000 after purchasing an additional 7,816,177 shares during the last quarter. Renaissance Technologies LLC raised its position in First Majestic Silver by 897.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,759,181 shares of the mining company’s stock valued at $20,638,000 after purchasing an additional 3,382,443 shares during the last quarter. Two Sigma Investments LP raised its position in First Majestic Silver by 46.8% in the 4th quarter. Two Sigma Investments LP now owns 4,455,923 shares of the mining company’s stock valued at $24,463,000 after purchasing an additional 1,420,937 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in First Majestic Silver by 115.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 1,520,359 shares of the mining company’s stock valued at $8,347,000 after purchasing an additional 814,153 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in First Majestic Silver by 2.7% in the 3rd quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company’s stock valued at $173,478,000 after purchasing an additional 764,790 shares during the last quarter. 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.