First Majestic Silver (NYSE:AG) PT Raised to $6.50 at Scotiabank

First Majestic Silver (NYSE:AG) (TSE:FR) had its price objective boosted by research analysts at Scotiabank from $5.50 to $6.50 in a research note issued on Thursday, Benzinga reports. The firm currently has a “sector perform” rating on the mining company’s stock. Scotiabank’s target price would indicate a potential downside of 9.34% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $8.50 target price on shares of First Majestic Silver in a research note on Thursday, May 9th. StockNews.com upgraded shares of First Majestic Silver to a “sell” rating in a research note on Monday, February 26th.

First Majestic Silver Stock Up 1.8 %

Shares of First Majestic Silver stock opened at $7.17 on Thursday. First Majestic Silver has a 1 year low of $4.17 and a 1 year high of $8.44. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.33 and a quick ratio of 1.77. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -44.81 and a beta of 1.39. The firm’s 50-day moving average is $6.86 and its two-hundred day moving average is $5.82.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Thursday, February 22nd. The mining company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $136.95 million during the quarter. First Majestic Silver had a negative net margin of 9.18% and a negative return on equity of 3.28%. During the same period last year, the firm earned ($0.07) EPS. As a group, research analysts expect that First Majestic Silver will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of First Majestic Silver

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creekmur Asset Management LLC purchased a new position in shares of First Majestic Silver during the fourth quarter worth $43,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of First Majestic Silver during the 1st quarter valued at about $48,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of First Majestic Silver in the 1st quarter valued at about $62,000. Capstone Investment Advisors LLC acquired a new stake in First Majestic Silver during the fourth quarter worth about $69,000. Finally, AXQ Capital LP raised its position in First Majestic Silver by 63.2% during the third quarter. AXQ Capital LP now owns 17,300 shares of the mining company’s stock valued at $89,000 after acquiring an additional 6,700 shares in the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

About First Majestic Silver

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 covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.