First Majestic Silver Corp. (NYSE:AG) (TSE:FR) gapped up prior to trading on Thursday . The stock had previously closed at $8.17, but opened at $8.14. First Majestic Silver shares last traded at $7.93, with a volume of 94,778 shares trading hands.

A number of research firms recently commented on AG. HC Wainwright set a $11.00 price target on Cerecor and gave the company a “buy” rating in a research report on Wednesday, April 17th. ValuEngine raised Xylem from a “hold” rating to a “buy” rating in a research report on Friday, June 21st. BMO Capital Markets reaffirmed a “hold” rating on shares of First Majestic Silver in a research report on Tuesday, April 2nd. Finally, Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $7.69.

The firm has a market capitalization of $1.64 billion, a PE ratio of -37.76 and a beta of 0.10. The company’s 50-day simple moving average is $6.90. The company has a quick ratio of 2.78, a current ratio of 3.24 and a debt-to-equity ratio of 0.24.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, May 9th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). First Majestic Silver had a negative return on equity of 4.63% and a negative net margin of 59.46%. The firm had revenue of $86.80 million during the quarter, compared to analyst estimates of $124.73 million. During the same period last year, the firm posted ($0.03) EPS. The business’s revenue was up 48.1% compared to the same quarter last year. On average, analysts anticipate that First Majestic Silver Corp. will post 0.02 earnings per share for the current year.

In other First Majestic Silver news, major shareholder Vinita Lee Piper bought 22,055 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was purchased at an average cost of $5.93 per share, with a total value of $130,786.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.85% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in AG. Deutsche Bank AG increased its holdings in First Majestic Silver by 3,672.1% in the 4th quarter. Deutsche Bank AG now owns 980,638 shares of the mining company’s stock worth $5,775,000 after acquiring an additional 954,641 shares during the last quarter. Norges Bank purchased a new stake in First Majestic Silver in the 4th quarter worth about $2,346,000. Alps Advisors Inc. increased its holdings in First Majestic Silver by 57.4% in the 1st quarter. Alps Advisors Inc. now owns 921,133 shares of the mining company’s stock worth $6,061,000 after acquiring an additional 335,918 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in First Majestic Silver in the 1st quarter worth about $2,621,000. Finally, Bank of Montreal Can increased its holdings in First Majestic Silver by 66.2% in the 1st quarter. Bank of Montreal Can now owns 671,560 shares of the mining company’s stock worth $4,419,000 after acquiring an additional 267,372 shares during the last quarter. 25.84% of the stock is owned by institutional investors.

About First Majestic Silver (NYSE:AG)

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.

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