HC Wainwright Reiterates “Buy” Rating for First Majestic Silver (NYSE:AG)

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

Separately, Scotiabank reduced their price objective on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating for the company in a report on Wednesday, January 15th.

First Majestic Silver Stock Performance

Shares of AG opened at $5.77 on Friday. The company has a quick ratio of 2.45, a current ratio of 3.03 and a debt-to-equity ratio of 0.16. First Majestic Silver has a 52-week low of $4.28 and a 52-week high of $8.44. The company has a 50-day simple moving average of $5.68 and a 200-day simple moving average of $6.01. The company has a market capitalization of $1.80 billion, a PE ratio of -21.35 and a beta of 1.24.

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

Institutional Trading of First Majestic Silver

Several institutional investors and hedge funds have recently modified their holdings of AG. Allworth Financial LP raised its position in shares of First Majestic Silver by 805.4% during the 4th quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock worth $29,000 after purchasing an additional 4,591 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of First Majestic Silver by 77.3% in the third quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock worth $31,000 after acquiring an additional 2,253 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of First Majestic Silver in the fourth quarter valued at $55,000. Bank of Nova Scotia acquired a new stake in shares of First Majestic Silver during the fourth quarter valued at $57,000. Finally, Captrust Financial Advisors acquired a new stake in shares of First Majestic Silver during the fourth quarter valued at $58,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

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.