First Majestic Silver (AG) Shares Gap Down to $6.90

First Majestic Silver (AG) Shares Gap Down to $6.90

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shares gapped down before the market opened on Thursday . The stock had previously closed at $7.12, but opened at $6.90. First Majestic Silver shares last traded at $6.62, with a volume of 4404595 shares traded.

Several analysts have issued reports on AG shares. ValuEngine lowered shares of First Majestic Silver from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 3rd. Zacks Investment Research raised shares of First Majestic Silver from a “hold” rating to a “buy” rating and set a $7.50 price target on the stock in a research report on Tuesday, March 19th. B. Riley began coverage on shares of First Majestic Silver in a research report on Friday, March 1st. They issued a “neutral” rating and a $6.00 price objective on the stock. BMO Capital Markets reissued a “buy” rating on shares of First Majestic Silver in a research report on Monday, December 17th. Finally, HC Wainwright set a $8.00 price objective on shares of First Majestic Silver and gave the company a “buy” rating in a research report on Tuesday, February 26th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. First Majestic Silver currently has an average rating of “Buy” and a consensus target price of $7.65.

The stock has a market capitalization of $1.30 billion, a P/E ratio of -31.33 and a beta of -0.13. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.30 and a current ratio of 2.86.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Monday, February 25th. The mining company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). First Majestic Silver had a negative net margin of 67.85% and a negative return on equity of 5.77%. The business had revenue of $74.10 million for the quarter, compared to analyst estimates of $116.30 million. During the same period last year, the firm earned ($0.04) earnings per share. First Majestic Silver’s revenue for the quarter was up 21.1% compared to the same quarter last year. Equities analysts predict that First Majestic Silver Corp. will post 0.08 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in First Majestic Silver during the fourth quarter worth about $2,346,000. Legal & General Group Plc boosted its stake in shares of First Majestic Silver by 6.9% in the 4th quarter. Legal & General Group Plc now owns 49,824 shares of the mining company’s stock valued at $293,000 after purchasing an additional 3,224 shares in the last quarter. IHT Wealth Management LLC acquired a new stake in shares of First Majestic Silver in the 4th quarter valued at approximately $70,000. Cipher Capital LP acquired a new stake in shares of First Majestic Silver in the 4th quarter valued at approximately $624,000. Finally, Old West Investment Management LLC acquired a new stake in shares of First Majestic Silver in the 4th quarter valued at approximately $1,178,000. Hedge funds and other institutional investors own 26.65% of the company’s stock.

First Majestic Silver Company Profile (NYSE:AG)

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. It owns and operates six silver producing mines, including the Santa Elena Silver/Gold Mine covering an area of 101,837 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco; and La Guitarra Silver Mine that consists of 39,714 hectares situated in México State.

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