BMO Capital Markets Downgrades First Majestic Silver (AG) to Underperform

First Majestic Silver (NYSE:AG) (TSE:FR) was downgraded by equities researchers at BMO Capital Markets from a “market perform” rating to an “underperform” rating in a note issued to investors on Friday.

Other equities research analysts have also issued research reports about the stock. ValuEngine upgraded shares of First Majestic Silver from a “sell” rating to a “hold” rating in a report on Thursday, December 14th. Zacks Investment Research upgraded shares of First Majestic Silver from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of First Majestic Silver in a report on Friday, November 3rd. Finally, Scotiabank decreased their price objective on shares of First Majestic Silver from $11.50 to $9.75 and set a “sector perform” rating for the company in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. First Majestic Silver has an average rating of “Hold” and an average price target of $10.50.

Shares of First Majestic Silver (NYSE:AG) opened at $6.93 on Friday. First Majestic Silver has a twelve month low of $5.92 and a twelve month high of $10.92. The firm has a market cap of $1,265.92, a PE ratio of 231.08 and a beta of 0.21. The company has a current ratio of 3.77, a quick ratio of 3.38 and a debt-to-equity ratio of 0.04.

A number of institutional investors and hedge funds have recently made changes to their positions in AG. Sei Investments Co. raised its holdings in shares of First Majestic Silver by 1,046.9% in the 2nd quarter. Sei Investments Co. now owns 12,157 shares of the mining company’s stock valued at $101,000 after purchasing an additional 11,097 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of First Majestic Silver by 1.6% in the 2nd quarter. Advisor Group Inc. now owns 43,521 shares of the mining company’s stock valued at $102,000 after purchasing an additional 695 shares in the last quarter. Scotia Capital Inc. bought a new stake in shares of First Majestic Silver in the 2nd quarter valued at about $105,000. Quantbot Technologies LP bought a new stake in shares of First Majestic Silver in the 2nd quarter valued at about $126,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of First Majestic Silver by 18.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,536 shares of the mining company’s stock valued at $129,000 after purchasing an additional 2,408 shares in the last quarter. Institutional investors own 29.95% of the company’s stock.

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First Majestic Silver Company Profile

First Majestic Silver Corp. is a mining company. The Company is focused on silver production in Mexico and it is pursuing the development of its existing mineral property assets. The Company operates through eight segments, six of which are located in Mexico; one retail market segment in Canada, and one metal trading segment in Europe.

Analyst Recommendations for First Majestic Silver (NYSE:AG)

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