First Majestic Silver (NYSE:AG) Given “Buy” Rating at HC Wainwright

First Majestic Silver (NYSE:AG) (TSE:FR)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $11.00 price objective on the mining company’s stock. HC Wainwright’s price target points to a potential upside of 84.25% from the stock’s previous close.

First Majestic Silver Trading Up 1.5 %

NYSE:AG opened at $5.97 on Friday. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -22.11 and a beta of 1.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 3.03. The firm has a 50-day moving average price of $6.12 and a two-hundred day moving average price of $6.10. First Majestic Silver has a 52 week low of $4.17 and a 52 week high of $8.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, November 7th. The mining company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). The business had revenue of $146.09 million during the quarter. First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. On average, equities analysts expect that First Majestic Silver will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of First Majestic Silver by 2.7% during the 3rd quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company’s stock valued at $173,478,000 after purchasing an additional 764,790 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of First Majestic Silver in the second quarter worth $3,904,000. Barclays PLC bought a new position in shares of First Majestic Silver during the third quarter valued at $2,419,000. Quantbot Technologies LP purchased a new stake in First Majestic Silver during the 3rd quarter valued at $2,057,000. Finally, XTX Topco Ltd raised its stake in shares of First Majestic Silver by 1,510.1% in the third quarter. XTX Topco Ltd now owns 271,748 shares of the mining company’s stock worth $1,630,000 after purchasing an additional 254,870 shares during the last quarter. 27.16% of the stock is owned by hedge funds and other institutional investors.

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 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.