First Majestic Silver (NYSE:AG) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of First Majestic Silver (NYSE:AG) (TSE:FR) in a research report report published on Friday morning, Benzinga reports. They currently have a $8.50 price objective on the mining company’s stock.

Separately, Scotiabank boosted their price objective on shares of First Majestic Silver from $5.50 to $6.50 and gave the stock a sector perform rating in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, First Majestic Silver has a consensus rating of Hold and an average price target of $7.50.

First Majestic Silver Trading Down 4.9 %

NYSE AG opened at $4.63 on Friday. First Majestic Silver has a 52-week low of $4.17 and a 52-week high of $8.44. The firm has a 50-day moving average price of $5.76 and a 200 day moving average price of $6.16. The stock has a market capitalization of $1.34 billion, a P/E ratio of -28.94 and a beta of 1.32. The company has a quick ratio of 2.44, a current ratio of 3.05 and a debt-to-equity ratio of 0.17.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, August 1st. The mining company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). First Majestic Silver had a negative net margin of 15.37% and a negative return on equity of 4.39%. The business had revenue of $136.20 million during the quarter, compared to analyst estimates of $129.74 million. During the same period last year, the business posted ($0.02) EPS. First Majestic Silver’s revenue was down 7.2% compared to the same quarter last year. Equities research analysts expect that First Majestic Silver will post -0.11 EPS for the current year.

First Majestic Silver Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.0046 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Friday, August 16th. First Majestic Silver’s dividend payout ratio is presently -6.25%.

Institutional Trading of First Majestic Silver

A number of hedge funds have recently bought and sold shares of the company. Gordian Capital Singapore Pte Ltd acquired a new stake in First Majestic Silver in the 2nd quarter worth about $258,000. The Manufacturers Life Insurance Company lifted its holdings in shares of First Majestic Silver by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 238,618 shares of the mining company’s stock worth $1,411,000 after acquiring an additional 3,980 shares during the period. Dark Forest Capital Management LP acquired a new stake in shares of First Majestic Silver in the second quarter worth approximately $70,000. Toronto Dominion Bank grew its holdings in First Majestic Silver by 34.4% in the second quarter. Toronto Dominion Bank now owns 27,549 shares of the mining company’s stock valued at $163,000 after purchasing an additional 7,052 shares during the period. Finally, Cubist Systematic Strategies LLC increased its position in First Majestic Silver by 60.6% during the second quarter. Cubist Systematic Strategies LLC now owns 80,164 shares of the mining company’s stock worth $474,000 after purchasing an additional 30,260 shares during the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.