First Majestic Silver Corp. (TSE:FR) (NYSE:AG) Insider Sprott Mining Inc. sold 500,000 shares of its stock in a transaction on Thursday, November 11. The shares were sold at an average price of $17.90 for a total transaction of $8,951,912.50. Upon completion of the sale, the insider now owns 27,225,241 shares of the Company’s shares valued at approximately $487,435,950.45.
Sprott Mining Inc. also recently made the following trades:
- On Tuesday February 1st, Sprott Mining Inc. sold 1,000,000 shares of First Majestic Silver. The shares were sold at an average price of $13.16 for a total transaction of $13,155,500.00.
- On Monday, November 15th, Sprott Mining Inc. sold 500,000 shares of First Majestic Silver. The shares were sold at an average price of $17.49 for a total transaction of $8,743,886.50.
TSE:FR rose C$0.70 on Monday midday to hit C$13.33. 438,923 shares of the Company were exchanged compared to an average volume of 712,887. First Majestic Silver Corp. has a yearly low of $11.87 and a yearly high of $25.75. The company has a market cap of CA$3.42 billion and a P/E of 70.56. The company’s 50-day simple moving average is $13.78 and its 200-day simple moving average is $15.13. 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 released its quarterly results on Thursday, November 4th. The miner reported C($0.09) EPS for the quarter, missing analyst consensus estimates of C($0.01) by C($0.08). The company had revenue of $156.95 million for the quarter. As a group, equity analysts forecast that First Majestic Silver Corp. will post 0.37 EPS for the current year.
The company has a “war chest” of cash and innovative products in a fast-growing market.
Several brokers have recently commented on FR. Cormark issued a “buy” rating on shares of First Majestic Silver in a research report on Tuesday, November 9th. TD Securities upgraded the shares of First Majestic Silver from a “hold” rating to a “buy” rating and raised its target price for the company from C$19.50 in a research report on Tuesday, December 7th $18.00 reduced. BMO Capital Markets lowered its price target on shares of First Majestic Silver from C$12.75 to C$11.75 in a research report on Wednesday, January 19. National Bankshares lowered its price target on shares of First Majestic Silver from C$19.00 to C$18.50 in a research note on Friday, January 7th. Finally, on Wednesday, January 19th, HC Wainwright reiterated a buy rating and price target of $22.50 on shares of First Majestic Silver in a research report. Three equities research analysts have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “buy” and an average target price of $18.63.
Company profile of First Majestic Silver
First Majestic Silver Corp. is engaged in the acquisition, exploration, development and production of mineral properties focused on silver and gold production in Mexico. It holds 100% interest in the San Dimas silver/gold mine, which consists of 119 claims covering 71,839 hectares in Durango and Sinaloa states; the Santa Elena Silver/Gold Mine consists of 32 claims covering 102,172 hectares in Sonora; and the La Encantada Silver Mine consists of 22 claims covering 4,076 hectares in Coahuila and 1,343 hectares of surface tenure.
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