First Majestic Silver (NYSE:AG) Earns “Buy” Rating from HC Wainwright

First Majestic Silver (NYSE:AG) (TSE:FR)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $11.00 target price on the mining company’s stock. HC Wainwright’s price objective would suggest a potential upside of 90.81% from the stock’s current price.

Separately, Scotiabank cut their price target on shares of First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 15th.

First Majestic Silver Trading Up 7.4 %

Shares of First Majestic Silver stock opened at $5.77 on Friday. First Majestic Silver has a fifty-two week low of $4.28 and a fifty-two week high of $8.44. The business’s fifty day moving average is $5.68 and its two-hundred day moving average is $6.01. The company has a quick ratio of 2.45, a current ratio of 3.03 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.80 billion, a PE ratio of -21.35 and a beta of 1.24.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, February 20th. The mining company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. Analysts anticipate that First Majestic Silver will post -0.18 earnings per share for the current year.

Hedge Funds Weigh In On First Majestic Silver

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC purchased a new position in First Majestic Silver in the third quarter valued at approximately $2,419,000. Realta Investment Advisors raised its stake in shares of First Majestic Silver by 16.8% in the 4th quarter. Realta Investment Advisors now owns 497,726 shares of the mining company’s stock valued at $2,882,000 after acquiring an additional 71,456 shares during the period. National Bank of Canada FI lifted its holdings in shares of First Majestic Silver by 18.0% during the 3rd quarter. National Bank of Canada FI now owns 683,627 shares of the mining company’s stock valued at $4,102,000 after acquiring an additional 104,092 shares in the last quarter. Raymond James & Associates boosted its position in First Majestic Silver by 17.7% during the 3rd quarter. Raymond James & Associates now owns 558,096 shares of the mining company’s stock worth $3,349,000 after purchasing an additional 83,867 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in First Majestic Silver during the 3rd quarter worth $748,000. 27.16% of the stock is owned by institutional investors and hedge funds.

First Majestic Silver Company Profile

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.