First Majestic Silver (NYSE:AG) Given New $26.00 Price Target at HC Wainwright

First Majestic Silver (NYSE:AG) (TSE:FR) had its target price cut by research analysts at HC Wainwright from $30.75 to $26.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the mining company’s stock. HC Wainwright’s target price points to a potential upside of 51.67% from the stock’s previous close.

Several other research firms have also weighed in on AG. BMO Capital Markets raised First Majestic Silver from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 24th. Wall Street Zen lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings cut shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Zacks Research downgraded shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, Scotiabank upgraded shares of First Majestic Silver to a “hold” rating in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.67.

First Majestic Silver Price Performance

Shares of NYSE:AG traded down $0.02 during midday trading on Friday, hitting $17.14. The stock had a trading volume of 1,111,848 shares, compared to its average volume of 18,923,545. The company’s 50-day moving average price is $18.96 and its 200-day moving average price is $20.92. First Majestic Silver has a fifty-two week low of $7.74 and a fifty-two week high of $32.03. The company has a quick ratio of 2.54, a current ratio of 2.73 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $8.45 billion, a P/E ratio of 28.51 and a beta of 0.91.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Tuesday, May 12th. The mining company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.02). First Majestic Silver had a return on equity of 11.19% and a net margin of 19.51%.The firm had revenue of $476.67 million for the quarter, compared to analyst estimates of $522.00 million. During the same quarter in the prior year, the business posted $0.05 EPS. The business’s revenue was up 95.3% on a year-over-year basis. As a group, equities research analysts predict that First Majestic Silver will post 0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AG. Lodestone Wealth Management LLC bought a new stake in shares of First Majestic Silver in the 4th quarter valued at about $25,000. Harbor Investment Advisory LLC bought a new position in shares of First Majestic Silver during the first quarter worth about $32,000. EFG International AG bought a new position in shares of First Majestic Silver during the fourth quarter worth about $25,000. PNC Financial Services Group Inc. lifted its stake in shares of First Majestic Silver by 184.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock worth $32,000 after acquiring an additional 978 shares during the period. Finally, Spire Wealth Management acquired a new position in shares of First Majestic Silver in the fourth quarter worth approximately $35,000. 27.16% of the stock is owned by institutional investors and hedge funds.

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.