First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s share price gapped down before the market opened on Monday . The stock had previously closed at $7.38, but opened at $7.19. First Majestic Silver Corp. shares last traded at $7.00, with a volume of 3,054,053 shares trading hands.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered First Majestic Silver Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 9th. BidaskClub lowered First Majestic Silver Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of First Majestic Silver Corp. in a research note on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. First Majestic Silver Corp. presently has a consensus rating of “Hold” and an average price target of $12.67.
The stock’s 50-day moving average is $7.00 and its 200-day moving average is $7.92. The company has a market cap of $1.17 billion, a P/E ratio of 90.90 and a beta of 0.28.
First Majestic Silver Corp. (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Thursday, August 3rd. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The company had revenue of $60.10 million during the quarter, compared to analyst estimates of $77.62 million. First Majestic Silver Corp. had a net margin of 5.11% and a return on equity of 1.60%. First Majestic Silver Corp.’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.03 EPS.
Hedge funds have recently bought and sold shares of the business. Independence Advisors LLC purchased a new position in shares of First Majestic Silver Corp. in the 2nd quarter valued at about $1,401,000. Sei Investments Co. increased its holdings in shares of First Majestic Silver Corp. by 1,046.9% in the 2nd quarter. Sei Investments Co. now owns 12,157 shares of the mining company’s stock valued at $101,000 after acquiring an additional 11,097 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of First Majestic Silver Corp. in the 1st quarter valued at about $102,000. Scotia Capital Inc. purchased a new position in shares of First Majestic Silver Corp. in the 2nd quarter valued at about $105,000. Finally, Quantbot Technologies LP purchased a new position in shares of First Majestic Silver Corp. in the 2nd quarter valued at about $126,000. 29.46% of the stock is currently owned by institutional investors.
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About First Majestic Silver Corp.
First Majestic Silver Corp. is a mining company. The Company is focused on silver production in Mexico and it is pursuing the development of its existing mineral property assets. The Company operates through eight segments, six of which are located in Mexico; one retail market segment in Canada, and one metal trading segment in Europe.
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