First Majestic Silver (NYSE:AG) (TSE:FR) posted its quarterly earnings results on Thursday. The mining company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.01), Briefing.com reports. The company had revenue of $97.00 million during the quarter, compared to analysts’ expectations of $134.54 million. First Majestic Silver had a negative return on equity of 3.57% and a negative net margin of 50.33%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) EPS.
Shares of First Majestic Silver stock opened at $9.80 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.13 and a quick ratio of 2.66. The firm has a fifty day moving average price of $9.99 and a 200 day moving average price of $8.61. First Majestic Silver has a 1 year low of $4.59 and a 1 year high of $11.62. The stock has a market cap of $2.05 billion, a PE ratio of -46.67 and a beta of 0.08.
A number of research analysts have issued reports on the stock. B. Riley raised their price target on shares of First Majestic Silver from $5.95 to $8.20 and gave the stock a “neutral” rating in a report on Monday, September 9th. ValuEngine cut shares of First Majestic Silver from a “strong-buy” rating to a “buy” rating in a report on Monday, September 30th. HC Wainwright reissued a “buy” rating and set a $11.50 target price on shares of First Majestic Silver in a report on Friday. TheStreet raised shares of First Majestic Silver from a “d+” rating to a “c-” rating in a report on Thursday, July 18th. Finally, Zacks Investment Research raised shares of First Majestic Silver from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Friday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $10.23.
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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