First Majestic Silver (NYSE:AG) Trading Up 4.8% – Time to Buy?

First Majestic Silver Corp. (NYSE:AGGet Free Report) (TSE:FR) rose 4.8% during trading on Wednesday . The stock traded as high as $5.59 and last traded at $5.60. Approximately 1,667,870 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 15,490,205 shares. The stock had previously closed at $5.34.

Analyst Ratings Changes

A number of research analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price target on shares of First Majestic Silver in a research report on Friday, January 10th. Scotiabank decreased their target price on 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.

Get Our Latest Research Report on First Majestic Silver

First Majestic Silver Stock Performance

The firm has a market capitalization of $1.81 billion, a PE ratio of -22.17 and a beta of 1.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 3.03. The business’s fifty day simple moving average is $5.85 and its 200-day simple moving average is $6.04.

First Majestic Silver (NYSE:AGGet Free Report) (TSE:FR) last released its quarterly earnings data on Thursday, November 7th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. The firm had revenue of $146.09 million during the quarter. As a group, equities research analysts expect that First Majestic Silver Corp. will post -0.16 EPS for the current year.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a $0.0048 dividend. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend was Friday, November 15th. First Majestic Silver’s dividend payout ratio is -7.41%.

Institutional Trading of First Majestic Silver

Several institutional investors and hedge funds have recently made changes to their positions in AG. Barclays PLC bought a new stake in First Majestic Silver during the 3rd quarter valued at $2,419,000. Marshall Wace LLP purchased a new position in shares of First Majestic Silver during the second quarter valued at $3,904,000. National Bank of Canada FI raised its holdings in shares of First Majestic Silver by 18.0% in the third quarter. National Bank of Canada FI now owns 683,627 shares of the mining company’s stock valued at $4,102,000 after acquiring an additional 104,092 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in First Majestic Silver by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,158,908 shares of the mining company’s stock worth $18,701,000 after acquiring an additional 103,232 shares during the period. Finally, Raymond James & Associates grew its holdings in First Majestic Silver by 17.7% during the 3rd quarter. Raymond James & Associates now owns 558,096 shares of the mining company’s stock worth $3,349,000 after acquiring an additional 83,867 shares in the last quarter. 27.16% of the stock is currently owned by institutional investors.

About First Majestic Silver

(Get Free Report)

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.

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