First Majestic Silver (NYSE:AG) Shares Gap Up to $8.14
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.
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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