Cormark Comments on First Majestic Silver Corp’s FY2019 Earnings (AG)

First Majestic Silver Corp (NYSE:AG) (TSE:FR) – Analysts at Cormark issued their FY2019 earnings per share (EPS) estimates for First Majestic Silver in a research report issued on Wednesday. Cormark analyst R. Gray forecasts that the mining company will earn $0.06 per share for the year.

Several other analysts also recently issued reports on the company. BMO Capital Markets downgraded First Majestic Silver from a “market perform” rating to an “underperform” rating in a report on Friday, December 22nd. Zacks Investment Research raised First Majestic Silver from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a report on Friday, October 20th. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of First Majestic Silver in a report on Friday, November 3rd. Scotiabank cut their price target on First Majestic Silver from $11.50 to $9.75 and set a “sector perform” rating on the stock in a report on Friday, November 3rd. Finally, ValuEngine downgraded First Majestic Silver from a “hold” rating to a “sell” rating in a report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $10.50.

Shares of First Majestic Silver (NYSE:AG) traded down $0.32 during midday trading on Thursday, hitting $6.92. The company had a trading volume of 3,587,875 shares, compared to its average volume of 3,300,000. The company has a market cap of $1,200.00, a P/E ratio of 230.67 and a beta of 0.20. First Majestic Silver has a 1-year low of $5.92 and a 1-year high of $10.92. The company has a current ratio of 3.77, a quick ratio of 3.38 and a debt-to-equity ratio of 0.04.

A number of institutional investors have recently made changes to their positions in AG. Legal & General Group Plc raised its stake in First Majestic Silver by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 28,252 shares of the mining company’s stock valued at $234,000 after acquiring an additional 1,089 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in First Majestic Silver by 18.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,536 shares of the mining company’s stock valued at $129,000 after acquiring an additional 2,408 shares in the last quarter. Swiss National Bank raised its stake in First Majestic Silver by 2.2% during the 2nd quarter. Swiss National Bank now owns 275,600 shares of the mining company’s stock valued at $2,287,000 after acquiring an additional 6,000 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in First Majestic Silver by 31.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 56,477 shares of the mining company’s stock valued at $468,000 after acquiring an additional 13,500 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in First Majestic Silver by 5.4% during the 2nd quarter. Vanguard Group Inc. now owns 3,346,737 shares of the mining company’s stock valued at $27,811,000 after acquiring an additional 172,004 shares in the last quarter. 29.95% of the stock is currently owned by hedge funds and other institutional investors.

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About First Majestic Silver

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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