National Bankshares Trims First Majestic Silver (TSE:FR) Target Price to C$18.50

First Majestic Silver (TSE:FR) (NYSE:AG) had its price objective dropped by investment analysts at National Bankshares from C$19.00 to C$18.50 in a note issued to investors on Friday, BayStreet.CA reports. National Bankshares’ target price points to a potential upside of 41.33% from the company’s current price.

Several other equities analysts have also recently issued reports on FR. National Bank Financial reduced their price objective on First Majestic Silver to C$18.00 and set a “sector perform” rating for the company in a report on Friday, September 10th. Cormark restated a “buy” rating on shares of First Majestic Silver in a research report 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 report on Friday, December 3rd. HC Wainwright restated a “buy” rating and issued a C$25.00 target price on shares of First Majestic Silver in a report on Wednesday, October 13th. Finally, TD Securities upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating and reduced their target price for the company from C$19.50 to C$18.00 in a report on Tuesday, December 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$19.29.

FR stock traded up C$0.03 during midday trading on Friday, hitting C$13.09. 287,792 shares of the stock were exchanged, compared to its average volume of 486,135. The stock’s 50-day moving average price is C$15.11 and its 200-day moving average price is C$15.94. The stock has a market cap of C$3.36 billion and a price-to-earnings ratio of 72.94. First Majestic Silver has a fifty-two week low of C$12.74 and a fifty-two week high of C$30.75. The company has a debt-to-equity ratio of 16.05, a quick ratio of 2.03 and a current ratio of 2.91.

First Majestic Silver (TSE:FR) (NYSE:AG) last issued its quarterly earnings data on Thursday, November 4th. The mining company reported C($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.01) by C($0.08). The company had revenue of C$156.95 million during the quarter. Research analysts anticipate that First Majestic Silver will post 0.47 EPS for the current year.

In related news, Senior Officer Todd Olson Anthony acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 10th. The shares were acquired at an average cost of C$13.80 per share, for a total transaction of C$34,500.00. Following the acquisition, the insider now directly owns 52,500 shares in the company, valued at approximately C$724,500. Also, Director Keith Neumeyer sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, November 5th. The shares were sold at an average price of C$16.65, for a total transaction of C$832,500.00. Following the completion of the transaction, the director now owns 3,727,167 shares in the company, valued at approximately C$62,057,330.55. Over the last quarter, insiders have bought 13,521 shares of company stock worth $186,549 and have sold 209,100 shares worth $3,428,998.

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.

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