National Bank Financial Cuts First Majestic Silver (FR) Price Target to C$9.25
First Majestic Silver (TSE:FR) (NYSE:AG) had its price target cut by National Bank Financial from C$9.50 to C$9.25 in a research report released on Tuesday, BayStreet.CA reports. They currently have a sector perform rating on the mining company’s stock. National Bank Financial also issued estimates for First Majestic Silver’s FY2019 earnings at ($0.07) EPS and FY2021 earnings at $0.24 EPS.
Other equities research analysts have also recently issued research reports about the company. Cormark reduced their price objective on First Majestic Silver from C$11.50 to C$11.00 in a research note on Wednesday, April 17th. BMO Capital Markets reiterated a market perform rating and issued a C$8.25 price objective on shares of First Majestic Silver in a research note on Tuesday, April 2nd. Finally, B. Riley restated a neutral rating and set a C$6.00 price target on shares of First Majestic Silver in a research note on Friday, March 1st. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of C$9.40.
Shares of TSE FR opened at C$7.62 on Tuesday. The company has a debt-to-equity ratio of 25.16, a current ratio of 3.25 and a quick ratio of 2.70. First Majestic Silver has a twelve month low of C$6.12 and a twelve month high of C$11.09. The company has a market capitalization of $1.51 billion and a price-to-earnings ratio of -7.40.
In other news, Senior Officer Todd Olson Anthony sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of C$7.91, for a total transaction of C$79,100.00. Following the completion of the sale, the insider now owns 25,000 shares in the company, valued at C$197,750. Also, Director Robert A. Mccallum sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of C$9.35, for a total value of C$187,000.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately C$93,500. Insiders have sold 61,250 shares of company stock valued at $552,663 in the last 90 days.
About First Majestic Silver
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 San Dimas Silver/Gold Mine covering an area of 71,867 hectares located in Durango; the Santa Elena Silver/Gold Mine covering an area of 101,772 hectares located in Sonora; La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila; San Martin Silver Mine covering an area of 38,512 hectares located in Jalisco, as well as 1,296 hectares of surface land; La Parrilla Silver Mine covering an area of 69,478 hectares located in Durango; and Del Toro Silver Mine covering an area of 2,159 hectares situated in Zacatecas in Mexico.
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