First Majestic Silver (NYSE:AG) has tumbled 1.69% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 6.8% in the last four weeks. The stocks have underperformed the S&P 500 by 0.51% during the past week but First Majestic Silver (NYSE:AG) it has outperformed the index in 4 weeks by 5.83%.
First Majestic Silver (NYSE:AG): The stock opened at $12.74 on Friday but the bulls could not build on the opening and the stock topped out at $12.79 for the day. The stock traded down to $12.01 during the day, due to lack of any buying support eventually closed down at $12.25 with a loss of -1.45% for the day. The stock had closed at $12.43 on the previous day. The total traded volume was 22,165,145 shares.
The company shares have rallied 130.70% from its 1 Year high price. On Jun 16, 2016, the shares registered one year high at $13.57 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $11.13 and the 200 Day Moving Average price is recorded at $6.46.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Raymond James, downgrades their rating on the shares of First Majestic Silver (NYSE:AG). Raymond James has a Underperform rating on the shares. Previously, the analysts had a Market Perform rating on the shares. The rating by the firm was issued on April 20, 2016. Currently the company Insiders own 0.85% of First Majestic Silver shares according to the proxy statements. Institutional Investors own 29.87% of First Majestic Silver shares.
First Majestic Silver Corp is engaged in the business of silver production, development, exploration, and acquisition of mineral properties with a focus on silver production in Mexico. The Company has eight segments, including five operating segments located in Mexico, one development project in Mexico, one retail market segment in Canada and one silver trading segment in Europe. Corporate and eliminations consists primarily of the Companys other exploration properties. All of the Companys operations are within the mining industry and its products are silver dore, silver?lead and silver?zinc concentrates. Its mine and properties include La Encantada Silver Mine, La Parrilla Silver Mine, Del Toro Silver Mine, San Martin Silver Mine, La Guitarra Silver Mine, La Luz Silver Project, Plomosas Silver Project and Jalisco Group of Properties. It other properties include the Penasco Quemado Silver Project, the La Frazada Silver Project and the Los Lobos Silver Project in the State of Sonora.