First Majestic Silver Corp. (NYSE:AG) Declares Quarterly Dividend of $0.01

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) announced a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Investors of record on Friday, February 28th will be paid a dividend of 0.0057 per share by the mining company on Friday, March 14th. This represents a $0.02 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Friday, February 28th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.0048.

First Majestic Silver has increased its dividend payment by an average of 5.1% annually over the last three years. First Majestic Silver has a dividend payout ratio of 4.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Majestic Silver to earn $0.54 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 3.7%.

First Majestic Silver Trading Down 3.7 %

AG traded down $0.22 on Friday, reaching $5.55. 20,044,452 shares of the company traded hands, compared to its average volume of 17,973,529. First Majestic Silver has a one year low of $4.28 and a one year high of $8.44. The firm has a fifty day simple moving average of $5.68 and a two-hundred day simple moving average of $6.01. The company has a market cap of $1.73 billion, a P/E ratio of -20.61 and a beta of 1.24. The company has a quick ratio of 2.45, a current ratio of 3.03 and a debt-to-equity ratio of 0.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. The business had revenue of $172.34 million during the quarter, compared to the consensus estimate of $227.77 million. As a group, equities research analysts expect that First Majestic Silver will post -0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Scotiabank reduced their price target on shares of First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating for the company in a report on Wednesday, January 15th. HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of First Majestic Silver in a report on Friday.

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.