First Majestic Silver (NYSE:AG) Given New $25.50 Price Target at HC Wainwright

First Majestic Silver (NYSE:AG) (TSE:FR) had its target price cut by equities researchers at HC Wainwright from $27.00 to $25.50 in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the mining company’s stock. HC Wainwright’s price target would indicate a potential upside of 50.18% from the company’s previous close.

Several other research firms also recently commented on AG. ATB Cormark Capital Markets raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, July 10th. Scotiabank lowered their target price on shares of First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of First Majestic Silver in a research report on Wednesday, September 2nd. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, First Majestic Silver presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

First Majestic Silver Price Performance

Shares of NYSE AG opened at $16.98 on Friday. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 23.92 and a beta of 0.97. The business has a 50-day moving average of $19.17 and a 200-day moving average of $19.10. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.57 and a quick ratio of 2.38. First Majestic Silver has a fifty-two week low of $10.19 and a fifty-two week high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, July 30th. The mining company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%.The company had revenue of $415.50 million for the quarter, compared to the consensus estimate of $496.00 million. During the same quarter in the previous year, the company posted $0.11 EPS. The business’s revenue was up 57.3% on a year-over-year basis. As a group, sell-side analysts predict that First Majestic Silver will post 0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Majestic Silver

Several hedge funds have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership boosted its holdings in shares of First Majestic Silver by 408.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company’s stock worth $250,821,000 after buying an additional 12,081,688 shares during the period. The Manufacturers Life Insurance Company acquired a new position in First Majestic Silver in the 2nd quarter valued at about $59,610,000. Renaissance Technologies LLC bought a new position in First Majestic Silver in the 1st quarter valued at about $62,760,000. Bank of America Corp DE raised its holdings in First Majestic Silver by 92.3% in the 1st quarter. Bank of America Corp DE now owns 6,082,824 shares of the mining company’s stock valued at $130,659,000 after acquiring an additional 2,919,008 shares during the period. Finally, Alps Advisors Inc. lifted its position in First Majestic Silver by 33.6% during the fourth quarter. Alps Advisors Inc. now owns 9,621,720 shares of the mining company’s stock worth $160,298,000 after acquiring an additional 2,418,513 shares during the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Company Profile

First Majestic Silver Corp. is a mining company focused on the exploration, development and production of silver, gold and related metals. The company also produces and sells investment-grade silver bullion through its own minting and retail operations.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically operated a portfolio of silver-producing mines in Mexico, including San Dimas in Durango, Santa Elena in Sonora and La Encantada in Coahuila.