First Majestic Silver (NYSE:AG) Stock Crosses Above Two Hundred Day Moving Average of $9.68

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Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.68 and traded as high as $9.89. First Majestic Silver shares last traded at $9.76, with a volume of 4,416,908 shares changing hands.

Several research firms recently issued reports on AG. BMO Capital Markets upped their price target on First Majestic Silver from $12.50 to $15.00 and gave the company a “market perform” rating in a research report on Monday, August 10th. HC Wainwright upped their price objective on First Majestic Silver from $11.50 to $16.50 and gave the stock a “buy” rating in a research note on Monday, August 10th. TD Securities downgraded First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Friday, July 24th. Finally, Zacks Investment Research downgraded First Majestic Silver from a “hold” rating to a “sell” rating in a research note on Tuesday, September 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $10.45.

The company has a 50 day moving average price of $11.37 and a 200-day moving average price of $9.70. The company has a quick ratio of 1.90, a current ratio of 2.45 and a debt-to-equity ratio of 0.24.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Thursday, August 6th. The mining company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.08). First Majestic Silver had a negative return on equity of 0.05% and a negative net margin of 23.48%. The business had revenue of $34.90 million during the quarter, compared to the consensus estimate of $55.22 million. On average, research analysts expect that First Majestic Silver Corp. will post 0.06 EPS for the current year.

A number of hedge funds have recently made changes to their positions in AG. Swiss National Bank boosted its stake in First Majestic Silver by 2.7% during the first quarter. Swiss National Bank now owns 361,200 shares of the mining company’s stock valued at $2,198,000 after buying an additional 9,600 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in First Majestic Silver by 211.2% during the first quarter. Commonwealth Equity Services LLC now owns 150,715 shares of the mining company’s stock valued at $932,000 after buying an additional 102,289 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in First Majestic Silver by 3,120.4% during the first quarter. JPMorgan Chase & Co. now owns 257,891 shares of the mining company’s stock valued at $1,597,000 after buying an additional 249,883 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in First Majestic Silver during the first quarter valued at about $37,000. Finally, Private Advisor Group LLC bought a new position in First Majestic Silver during the first quarter valued at about $1,266,000. 31.09% of the stock is owned by institutional investors and hedge funds.

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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