First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shares gapped down prior to trading on Wednesday . The stock had previously closed at $8.14, but opened at $7.90. First Majestic Silver shares last traded at $7.83, with a volume of 4,529,022 shares.
A number of analysts have issued reports on the company. ValuEngine downgraded First Majestic Silver from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 3rd. Zacks Investment Research raised First Majestic Silver from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a research note on Tuesday, March 19th. BMO Capital Markets reaffirmed a “hold” rating on shares of First Majestic Silver in a research note on Tuesday, April 2nd. B. Riley assumed coverage on First Majestic Silver in a research note on Friday, March 1st. They issued a “neutral” rating and a $6.00 target price for the company. Finally, HC Wainwright set a $8.00 target price on First Majestic Silver and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $7.31.
The firm has a 50-day moving average price of $6.31. The company has a quick ratio of 2.78, a current ratio of 3.24 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.60 billion, a PE ratio of -37.29 and a beta of -0.11.
In other First Majestic Silver news, major shareholder Vinita Lee Piper acquired 22,055 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average cost of $5.93 per share, with a total value of $130,786.15. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.85% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of First Majestic Silver during the 4th quarter worth about $15,705,000. Deutsche Bank AG grew its position in First Majestic Silver by 3,672.1% in the 4th quarter. Deutsche Bank AG now owns 980,638 shares of the mining company’s stock valued at $5,775,000 after acquiring an additional 954,641 shares in the last quarter. ETF Managers Group LLC grew its position in First Majestic Silver by 3.5% in the 1st quarter. ETF Managers Group LLC now owns 943,272 shares of the mining company’s stock valued at $6,207,000 after acquiring an additional 31,738 shares in the last quarter. Alps Advisors Inc. grew its position in First Majestic Silver by 57.4% in the 1st quarter. Alps Advisors Inc. now owns 921,133 shares of the mining company’s stock valued at $6,061,000 after acquiring an additional 335,918 shares in the last quarter. Finally, Bank of Montreal Can grew its position in First Majestic Silver by 66.2% in the 1st quarter. Bank of Montreal Can now owns 671,560 shares of the mining company’s stock valued at $4,419,000 after acquiring an additional 267,372 shares in the last quarter. 26.03% of the stock is owned by hedge funds and other institutional investors.
About First Majestic Silver (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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