First Majestic Silver (NYSE:AG) Stock Rating Upgraded by StockNews.com

First Majestic Silver (NYSE:AG) (TSE:FR) was upgraded by StockNews.com to a “sell” rating in a report released on Monday.

Several other analysts have also recently issued reports on the company. TD Securities cut their target price on First Majestic Silver from C$10.50 to C$10.00 in a research note on Friday, August 4th. BMO Capital Markets began coverage on shares of First Majestic Silver in a report on Thursday, September 14th. They issued a “market perform” rating for the company. Finally, HC Wainwright lowered their price objective on shares of First Majestic Silver from $12.50 to $12.00 and set a “buy” rating for the company in a report on Monday, August 7th.

First Majestic Silver Trading Up 0.2 %

Shares of NYSE:AG traded up $0.01 on Monday, reaching $5.24. 4,223,977 shares of the company traded hands, compared to its average volume of 5,710,686. The business’s 50-day simple moving average is $5.19 and its 200 day simple moving average is $5.74. First Majestic Silver has a 52 week low of $4.38 and a 52 week high of $9.67. The stock has a market capitalization of $1.50 billion, a P/E ratio of -9.03 and a beta of 1.17. The company has a current ratio of 2.97, a quick ratio of 2.37 and a debt-to-equity ratio of 0.18.

Institutional Investors Weigh In On First Majestic Silver

Institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp lifted its holdings in shares of First Majestic Silver by 12.2% in the 1st quarter. Van ECK Associates Corp now owns 29,511,019 shares of the mining company’s stock valued at $212,774,000 after acquiring an additional 3,199,855 shares during the last quarter. Portside Wealth Group LLC bought a new position in shares of First Majestic Silver in the 2nd quarter valued at about $80,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of First Majestic Silver by 35.9% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,572,919 shares of the mining company’s stock valued at $37,205,000 after acquiring an additional 1,737,375 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of First Majestic Silver by 13.0% in the 2nd quarter. LPL Financial LLC now owns 374,288 shares of the mining company’s stock valued at $2,115,000 after acquiring an additional 42,988 shares during the last quarter. Finally, Prospera Financial Services Inc bought a new position in shares of First Majestic Silver in the 2nd quarter valued at about $57,000. Hedge funds and other institutional investors own 31.43% 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 that consists of 119 individual concessions covering an area of 71,839 hectares located in Durango and Sinaloa States, México; the Santa Elena comprising 32 individual concessions that covers an area of 102,172 hectares located in Sonora State, México; and the La Encantada consists of 22 exploitation concessions covering an area of 4,076 hectares located in Coahuila State, México.