First Majestic Silver (AG) Raised to “Buy” at TD Securities

TD Securities upgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports.

A number of other brokerages also recently weighed in on AG. HC Wainwright reiterated a buy rating and issued a $14.00 target price on shares of First Majestic Silver in a report on Tuesday, January 16th. BMO Capital Markets upgraded First Majestic Silver from an underperform rating to a market perform rating in a report on Monday. Zacks Investment Research downgraded First Majestic Silver from a hold rating to a sell rating in a report on Friday, January 19th. Roth Capital assumed coverage on First Majestic Silver in a report on Wednesday, April 25th. They issued a buy rating and a $9.00 target price for the company. Finally, National Bank Financial downgraded First Majestic Silver from an outperform rating to a sector perform rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. First Majestic Silver presently has an average rating of Hold and a consensus price target of $9.63.

Shares of AG stock opened at $7.14 on Tuesday. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -178.50 and a beta of 0.24. The company has a quick ratio of 4.15, a current ratio of 4.41 and a debt-to-equity ratio of 0.21. First Majestic Silver has a fifty-two week low of $7.07 and a fifty-two week high of $7.31.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Wednesday, May 9th. The mining company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.04). The business had revenue of $58.59 million during the quarter, compared to the consensus estimate of $63.79 million. First Majestic Silver had a negative return on equity of 3.27% and a negative net margin of 25.47%. research analysts anticipate that First Majestic Silver will post 0.04 earnings per share for the current year.

First Majestic Silver announced that its Board of Directors has approved a share buyback plan on Monday, March 19th that permits the company to repurchase 8,290,000 shares. This repurchase authorization permits the mining company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

A number of institutional investors have recently made changes to their positions in the business. Sei Investments Co. boosted its position in shares of First Majestic Silver by 99.7% during the first quarter. Sei Investments Co. now owns 17,379 shares of the mining company’s stock valued at $106,000 after buying an additional 8,675 shares during the last quarter. Seven Eight Capital LP purchased a new position in shares of First Majestic Silver during the first quarter valued at approximately $137,000. BlackRock Inc. boosted its position in shares of First Majestic Silver by 170.5% during the first quarter. BlackRock Inc. now owns 33,792 shares of the mining company’s stock valued at $206,000 after buying an additional 21,301 shares during the last quarter. Two Sigma Securities LLC purchased a new position in shares of First Majestic Silver during the fourth quarter valued at approximately $215,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of First Majestic Silver by 170.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 31,852 shares of the mining company’s stock valued at $215,000 after buying an additional 20,064 shares during the last quarter. 28.95% of the stock is owned by hedge funds and other institutional investors.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.

Analyst Recommendations for First Majestic Silver (NYSE:AG)

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