First Majestic Silver (AG) stock is expected to deviate a maximum of $4.39 from the average target price of $10.55 for the short term period. 7 Street Experts have initiated coverage on the stock with the most promising target being $15 and the most muted being $4.
First Majestic Silver (AG) has shown a drop of 31.2% or 4,460,714 shares in the short positions. The bets have increased to 9,817,815 shares on June 30,2016 from 14,278,529 shares on June 15,2016. With respect to the floated shares, the shorts are 6.5%. The days to cover are calculated to be 1, using the standard per day volume of 7,045,950 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Raymond James downgrades their rating on the shares of First Majestic Silver (NYSE:AG). The current rating of the shares is Underperform. Earlier, the shares were rated a Market Perform by the brokerage firm. The rating by the firm was issued on April 20, 2016.
First Majestic Silver (NYSE:AG): stock turned positive on Thursday. Though the stock opened at $16.45, the bulls momentum made the stock top out at $17.11 level for the day. The stock recorded a low of $16.22 and closed the trading day at $16.94, in the green by 0.18%. The total traded volume for the day was 7,241,258. The stock had closed at $16.91 in the previous days trading.
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.