First Majestic Silver Corp. (NYSE:AG) Receives $23.17 Consensus Price Target from Brokerages

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $23.1667.

AG has been the topic of a number of research analyst reports. HC Wainwright lifted their price target on shares of First Majestic Silver from $17.50 to $24.50 and gave the company a “buy” rating in a report on Friday, January 16th. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 6th. TD Securities upgraded First Majestic Silver from a “hold” rating to a “buy” rating in a report on Wednesday, October 8th. BMO Capital Markets restated a “market perform” rating on shares of First Majestic Silver in a research note on Friday, January 16th. Finally, Wall Street Zen lowered First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th.

First Majestic Silver Trading Up 8.1%

NYSE AG opened at $22.06 on Friday. The company has a market cap of $10.84 billion, a P/E ratio of 157.55 and a beta of 0.85. First Majestic Silver has a 12 month low of $5.09 and a 12 month high of $27.90. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.38 and a quick ratio of 2.96. The company has a 50-day moving average of $18.46 and a 200-day moving average of $13.50.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Wednesday, November 5th. The mining company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.04). First Majestic Silver had a return on equity of 3.14% and a net margin of 7.07%.The company had revenue of $285.10 million during the quarter, compared to analyst estimates of $429.78 million. During the same period in the prior year, the business posted ($0.09) earnings per share. First Majestic Silver’s revenue was up 95.3% on a year-over-year basis. As a group, equities analysts predict that First Majestic Silver will post 0.54 earnings per share for the current year.

Institutional Investors Weigh In On First Majestic Silver

Large investors have recently made changes to their positions in the business. Van ECK Associates Corp lifted its holdings in shares of First Majestic Silver by 32.0% during the 3rd quarter. Van ECK Associates Corp now owns 43,225,807 shares of the mining company’s stock valued at $531,234,000 after acquiring an additional 10,471,543 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in First Majestic Silver by 74.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,666,756 shares of the mining company’s stock valued at $112,880,000 after purchasing an additional 5,821,751 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of First Majestic Silver during the third quarter worth about $55,071,000. Alps Advisors Inc. boosted its position in shares of First Majestic Silver by 108.7% in the third quarter. Alps Advisors Inc. now owns 7,203,207 shares of the mining company’s stock worth $88,527,000 after buying an additional 3,751,376 shares during the period. Finally, Artemis Investment Management LLP acquired a new stake in shares of First Majestic Silver in the fourth quarter valued at about $45,898,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

About First Majestic Silver

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.