First Majestic Silver (NYSE:AG) Shares Gap Up – Should You Buy?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) gapped up before the market opened on Monday . The stock had previously closed at $7.30, but opened at $7.72. First Majestic Silver shares last traded at $7.74, with a volume of 2,133,295 shares.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AG. HC Wainwright restated a “buy” rating and issued a $8.50 price target on shares of First Majestic Silver in a research note on Friday. Cormark upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, September 6th.

First Majestic Silver Trading Up 2.9 %

The company has a current ratio of 3.05, a quick ratio of 2.44 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average is $5.90 and its 200 day moving average is $6.36. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -48.19 and a beta of 1.36.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Thursday, August 1st. The mining company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The business had revenue of $136.20 million during the quarter, compared to the consensus estimate of $129.74 million. First Majestic Silver had a negative return on equity of 4.39% and a negative net margin of 15.37%. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) EPS. On average, equities analysts predict that First Majestic Silver Corp. will post -0.13 earnings per share for the current fiscal year.

First Majestic Silver Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.0046 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.25%. First Majestic Silver’s dividend payout ratio (DPR) is -6.25%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AG. Blue Trust Inc. raised its stake in First Majestic Silver by 77.3% during the third quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock worth $31,000 after buying an additional 2,253 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in First Majestic Silver during the 1st quarter worth about $48,000. B. Riley Wealth Advisors Inc. bought a new position in shares of First Majestic Silver in the 1st quarter worth about $62,000. Dark Forest Capital Management LP acquired a new position in shares of First Majestic Silver in the 2nd quarter valued at about $70,000. Finally, Creative Planning acquired a new position in shares of First Majestic Silver in the 3rd quarter valued at about $72,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Company Profile

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.