First Majestic Silver (AG) : Investors lapped up stocks on upticks to the tune of $23.43 million in the Wednesdays trading session. The trading value on downticks was comparatively at $20.43 million and the uptick to downtick ratio of 1.15 indicates continuous buying by the bulls. The net money flow into the stock was $3 million. The block trades were dominated by the bulls with a healthy 2.59, uptick to downtick ratio. Only $1.24 million worth of trades exchanged hands on downticks showing the reluctance of the large traders to part with their holdings. Upticks saw transactions worth $3.19 clearly indicating buying by large investors. The total money flow for block trades stood at $1.96 million, which is a positive for the stock in the long-term. First Majestic Silver (AG) fell $1.59 during the day at $15.08, a drop of -9.54% over the previous days close. However, for the week, the stock is -10.08%, compared to the previous week.
Also, Equity Analysts at the Raymond James downgrades the rating on First Majestic Silver (NYSE:AG). The brokerage firm has issued a Underperform rating on the shares. The shares were previously rated Market Perform. The rating by the firm was issued on April 20, 2016.
First Majestic Silver (NYSE:AG): The stock opened at $15.96 on Wednesday but the bulls could not build on the opening and the stock topped out at $16.03 for the day. The stock traded down to $15.01 during the day, due to lack of any buying support eventually closed down at $15.08 with a loss of -9.54% for the day. The stock had closed at $16.67 on the previous day. The total traded volume was 6,905,910 shares.
The stock has recorded a 20-day Moving Average of 2.6% and the 50-Day Moving Average is 18.53%.
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.