First Majestic Silver (TSE:AG) Trading 8.3% Higher – Here’s What Happened

First Majestic Silver Corp. (TSE:AG)’s share price was up 8.3% on Thursday . The stock traded as high as C$34.05 and last traded at C$33.55. Approximately 625,151 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 2,380,639 shares. The stock had previously closed at C$30.98.

Analyst Ratings Changes

AG has been the topic of several recent research reports. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 6th. TD Securities increased their target price on shares of First Majestic Silver from C$22.00 to C$36.00 in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$30.60.

First Majestic Silver Stock Performance

The firm’s 50 day moving average price is C$28.15 and its two-hundred day moving average price is C$20.40. The company has a market cap of C$18.47 billion, a P/E ratio of 269.29 and a beta of 2.10.

First Majestic Silver (TSE:AG) last posted its quarterly earnings results on Thursday, February 19th. The company reported C$0.41 EPS for the quarter. The business had revenue of C$621.00 million during the quarter. First Majestic Silver had a negative net margin of 14.81% and a negative return on equity of 5.74%. As a group, analysts forecast that First Majestic Silver Corp. will post 0.4623323 EPS for the current fiscal year.

About First Majestic Silver

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.