First Majestic Silver (NYSE:AG) Announces Earnings Results

First Majestic Silver (NYSE:AG) (TSE:FR) posted its quarterly earnings data on Thursday. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.12), reports. The business had revenue of $146.09 million for the quarter. First Majestic Silver had a negative return on equity of 4.39% and a negative net margin of 15.37%.

First Majestic Silver Stock Down 4.3 %

Shares of NYSE AG opened at $6.47 on Friday. The business has a 50 day simple moving average of $6.42 and a 200-day simple moving average of $6.37. First Majestic Silver has a twelve month low of $4.17 and a twelve month high of $8.44. The company has a current ratio of 3.05, a quick ratio of 2.44 and a debt-to-equity ratio of 0.17.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.0048 dividend. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.02 annualized dividend and a dividend yield of 0.30%. First Majestic Silver’s dividend payout ratio (DPR) is presently -7.41%.

Hedge Funds Weigh In On First Majestic Silver

Hedge funds have recently added to or reduced their stakes in the business. Cetera Advisors LLC grew its holdings in shares of First Majestic Silver by 3.1% during the first quarter. Cetera Advisors LLC now owns 53,577 shares of the mining company’s stock valued at $315,000 after purchasing an additional 1,601 shares during the last quarter. Blue Trust Inc. grew its stake in First Majestic Silver by 77.3% during the 3rd 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. Veracity Capital LLC increased its position in First Majestic Silver by 18.5% in the third quarter. Veracity Capital LLC now owns 17,344 shares of the mining company’s stock worth $104,000 after buying an additional 2,710 shares during the period. International Assets Investment Management LLC lifted its stake in First Majestic Silver by 39.5% in the second quarter. International Assets Investment Management LLC now owns 13,995 shares of the mining company’s stock valued at $83,000 after buying an additional 3,960 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of First Majestic Silver by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 238,618 shares of the mining company’s stock valued at $1,411,000 after acquiring an additional 3,980 shares during the period. Institutional investors and hedge funds own 27.16% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Cormark upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, September 6th. HC Wainwright reissued a “buy” rating and set a $8.50 price objective on shares of First Majestic Silver in a report on Friday, October 18th.

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.