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HC Wainwright Reiterates “Buy” Rating for First Majestic Silver (TSE:FR)

HC Wainwright restated their buy rating on shares of First Majestic Silver (TSE:FR) (NYSE:AG) in a research note published on Wednesday morning, TipRanks…

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This article was originally published by ETF Daily News

HC Wainwright restated their buy rating on shares of First Majestic Silver (TSE:FR) (NYSE:AG) in a research note published on Wednesday morning, TipRanks reports. The firm currently has a C$22.50 price objective on the mining company’s stock.

Several other equities analysts have also recently issued reports on FR. Cormark restated a buy rating on shares of First Majestic Silver in a research note on Tuesday, November 9th. BMO Capital Markets set a C$13.25 price objective on First Majestic Silver and gave the stock a market perform rating in a research note on Friday, December 3rd. National Bankshares cut their target price on First Majestic Silver from C$19.00 to C$18.50 in a research note on Friday, January 7th. Finally, TD Securities upgraded First Majestic Silver from a hold rating to a buy rating and cut their target price for the company from C$19.50 to C$18.00 in a research note on Tuesday, December 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of C$18.63.

TSE FR opened at C$13.87 on Wednesday. First Majestic Silver has a one year low of C$12.74 and a one year high of C$30.75. The company’s 50 day moving average price is C$14.48 and its 200 day moving average price is C$15.50. The company has a debt-to-equity ratio of 16.05, a quick ratio of 2.03 and a current ratio of 2.91. The firm has a market capitalization of C$3.56 billion and a price-to-earnings ratio of 78.36.

First Majestic Silver (TSE:FR) (NYSE:AG) last posted its quarterly earnings results on Thursday, November 4th. The mining company reported C($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.01) by C($0.08). The company had revenue of C$156.95 million for the quarter. Sell-side analysts forecast that First Majestic Silver will post 0.45 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 30th. Investors of record on Wednesday, November 17th were issued a dividend of $0.006 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend was Tuesday, November 16th. First Majestic Silver’s payout ratio is currently 5.93%.

In related news, Senior Officer Todd Olson Anthony purchased 2,821 shares of the company’s stock in a transaction that occurred on Thursday, January 20th. The shares were purchased at an average price of C$14.58 per share, with a total value of C$41,130.18. Following the purchase, the insider now owns 75,000 shares of the company’s stock, valued at approximately C$1,093,500. Also, Senior Officer Connie Lillico sold 15,000 shares of First Majestic Silver stock in a transaction dated Wednesday, November 10th. The shares were sold at an average price of C$18.00, for a total value of C$270,000.00. Following the transaction, the insider now directly owns 111,500 shares in the company, valued at approximately C$2,007,000. Over the last ninety days, insiders have purchased 17,821 shares of company stock worth $245,680 and have sold 184,100 shares worth $3,016,498.

First Majestic Silver Company Profile

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in Mexico. It holds 100% interests in the San Dimas Silver/Gold Mine comprises 119 concessions covering an area of 71,839 hectares located in Durango and Sinaloa states; the Santa Elena Silver/Gold Mine consists of 32 concessions covering an area of 102,172 hectares located in Sonora; and the La Encantada Silver Mine comprises 22 concessions covering an area of 4,076 hectares situated in Coahuila, as well as surface land ownership of 1,343 hectares.

Further Reading: What are different types of coverage ratios?

The post HC Wainwright Reiterates “Buy” Rating for First Majestic Silver (TSE:FR) appeared first on ETF Daily News.



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