Roth Capital initiated coverage on shares of First Majestic Silver (NYSE:AG) (TSE:FR) in a research note published on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $9.00 price target on the mining company’s stock.

Other analysts also recently issued research reports about the stock. ValuEngine raised shares of First Majestic Silver from a sell rating to a hold rating in a research report on Monday, April 2nd. HC Wainwright set a $12.00 price target on shares of First Majestic Silver and gave the company a buy rating in a research report on Monday, April 2nd. TheStreet downgraded shares of First Majestic Silver from a c- rating to a d rating in a research report on Friday, March 23rd. Zacks Investment Research raised shares of First Majestic Silver from a strong sell rating to a hold rating in a research report on Tuesday, March 20th. Finally, National Bank Financial downgraded shares of First Majestic Silver from an outperform rating to a sector perform rating in a research report on Friday, January 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. First Majestic Silver has a consensus rating of Hold and an average price target of $9.63.

Shares of AG stock opened at $6.77 on Wednesday. The company has a market cap of $1,100.42, a PE ratio of -169.25 and a beta of 0.20. First Majestic Silver has a 52 week low of $4.93 and a 52 week high of $9.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.14 and a quick ratio of 2.79.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Wednesday, February 28th. The mining company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03). The company had revenue of $61.17 million for the quarter, compared to analyst estimates of $65.00 million. First Majestic Silver had a negative return on equity of 1.00% and a negative net margin of 21.12%. sell-side analysts expect that First Majestic Silver will post 0.03 earnings per share for the current fiscal year.

First Majestic Silver announced that its board has initiated a stock repurchase plan on Monday, March 19th that allows the company to repurchase 8,290,000 shares. This repurchase authorization allows the mining company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

A number of hedge funds and other institutional investors have recently bought and sold shares of AG. Two Sigma Securities LLC bought a new position in First Majestic Silver during the 4th quarter valued at $215,000. Tower Research Capital LLC TRC lifted its stake in First Majestic Silver by 170.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,852 shares of the mining company’s stock valued at $215,000 after acquiring an additional 20,064 shares in the last quarter. Cypress Wealth Services LLC bought a new position in First Majestic Silver during the 4th quarter valued at $294,000. LPL Financial LLC bought a new position in First Majestic Silver during the 4th quarter valued at $311,000. Finally, Amundi Pioneer Asset Management Inc. bought a new position in First Majestic Silver during the 4th quarter valued at $337,000. 29.52% of the stock is owned by institutional investors and hedge funds.

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 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.

Analyst Recommendations for First Majestic Silver (NYSE:AG)

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