First Majestic Silver (NYSE:AG) Upgraded to “Hold” at TD Securities

First Majestic Silver (NYSE:AG) (TSE:FR) was upgraded by research analysts at TD Securities to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other brokerages also recently weighed in on AG. Scotiabank cut their price target on shares of First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 15th. StockNews.com upgraded shares of First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of First Majestic Silver in a report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, First Majestic Silver currently has a consensus rating of “Hold” and an average price target of $8.50.

First Majestic Silver Stock Performance

Shares of First Majestic Silver stock opened at $6.13 on Monday. The firm has a market capitalization of $2.97 billion, a P/E ratio of -17.50 and a beta of 1.16. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average price of $5.68 and a 200 day moving average price of $6.04. First Majestic Silver has a 52 week low of $4.43 and a 52 week high of $8.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $172.34 million during the quarter, compared to analysts’ expectations of $227.77 million. First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. Sell-side analysts expect that First Majestic Silver will post 0.54 EPS for the current year.

Institutional Investors Weigh In On First Majestic Silver

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tidal Investments LLC grew its stake in shares of First Majestic Silver by 135.2% during the 4th quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company’s stock worth $74,647,000 after purchasing an additional 7,816,177 shares during the period. Vanguard Group Inc. grew its stake in shares of First Majestic Silver by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 11,423,691 shares of the mining company’s stock worth $62,784,000 after purchasing an additional 598,996 shares during the period. Two Sigma Investments LP grew its stake in shares of First Majestic Silver by 46.8% during the 4th quarter. Two Sigma Investments LP now owns 4,455,923 shares of the mining company’s stock worth $24,463,000 after purchasing an additional 1,420,937 shares during the period. Renaissance Technologies LLC grew its stake in shares of First Majestic Silver by 897.8% during the 4th quarter. Renaissance Technologies LLC now owns 3,759,181 shares of the mining company’s stock worth $20,638,000 after purchasing an additional 3,382,443 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in First Majestic Silver by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,472,159 shares of the mining company’s stock valued at $19,060,000 after acquiring an additional 121,892 shares during the period. 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.