First Majestic Silver Corp. (NYSE:AG) Short Interest Update

First Majestic Silver Corp. (NYSE:AGGet Rating) (TSE:FR) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 15,550,000 shares, a drop of 10.1% from the October 15th total of 17,290,000 shares. Based on an average daily trading volume, of 6,970,000 shares, the days-to-cover ratio is presently 2.2 days.

Analysts Set New Price Targets

A number of research firms recently commented on AG. HC Wainwright upped their price target on shares of First Majestic Silver from $11.50 to $12.50 and gave the company a “buy” rating in a report on Wednesday, October 19th. BMO Capital Markets cut their target price on First Majestic Silver from C$10.00 to C$9.50 in a research note on Monday, July 25th. TD Securities boosted their price target on First Majestic Silver from C$11.00 to C$12.00 in a report on Thursday, November 10th. National Bank Financial increased their price objective on First Majestic Silver from C$11.75 to C$13.00 in a report on Thursday, October 13th. Finally, Citigroup set a $8.00 target price on First Majestic Silver in a research note on Thursday, October 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First Majestic Silver currently has a consensus rating of “Hold” and an average target price of $11.00.

Institutional Investors Weigh In On First Majestic Silver

Several hedge funds have recently made changes to their positions in the company. Rational Advisors LLC boosted its stake in First Majestic Silver by 68.7% during the first quarter. Rational Advisors LLC now owns 3,140 shares of the mining company’s stock worth $41,000 after acquiring an additional 1,279 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in First Majestic Silver by 203.8% in the second quarter. Steward Partners Investment Advisory LLC now owns 3,950 shares of the mining company’s stock worth $28,000 after acquiring an additional 2,650 shares during the period. BerganKDV Wealth Management LLC boosted its stake in shares of First Majestic Silver by 94.4% during the 3rd quarter. BerganKDV Wealth Management LLC now owns 4,000 shares of the mining company’s stock worth $30,000 after acquiring an additional 1,942 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of First Majestic Silver by 5,383.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,825 shares of the mining company’s stock valued at $63,000 after acquiring an additional 4,737 shares during the period. Finally, Newbridge Financial Services Group Inc. increased its stake in shares of First Majestic Silver by 450.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 5,500 shares of the mining company’s stock worth $39,000 after purchasing an additional 4,500 shares in the last quarter. 30.62% of the stock is currently owned by institutional investors.

First Majestic Silver Price Performance

AG stock opened at $9.04 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.88 and a quick ratio of 1.51. First Majestic Silver has a 1 year low of $6.31 and a 1 year high of $14.59. The firm has a 50-day moving average of $8.22 and a 200 day moving average of $8.00.

First Majestic Silver Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Tuesday, November 22nd will be paid a $0.0061 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Monday, November 21st. First Majestic Silver’s payout ratio is presently -5.13%.

First Majestic Silver Company Profile

(Get Rating)

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. It holds 100% interests in the San Dimas Silver/Gold Mine covering an area of 71,868 hectares located in Durango and Sinaloa states; the Santa Elena Silver/Gold Mine covering an area of 102,244 hectares located in Sonora; Jerritt Canyon gold mine that covers an area of approximately of 30,821 hectares located in Elko County, Nevada; and the La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila, as well as surface land ownership of 1,343 hectares.

Further Reading

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