First Majestic Silver (NYSE:AG) Shares Up 4.4%

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shares rose 4.4% during mid-day trading on Wednesday . The stock traded as high as $5.03 and last traded at $5.00. Approximately 4,889,504 shares were traded during trading, a decline of 35% from the average daily volume of 7,564,194 shares. The stock had previously closed at $4.79.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, September 6th. Scotiabank upped their target price on shares of First Majestic Silver from $5.50 to $6.50 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.50 target price on shares of First Majestic Silver in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, First Majestic Silver presently has an average rating of “Hold” and a consensus price target of $7.50.

First Majestic Silver Price Performance

The business has a 50 day moving average of $5.69 and a 200 day moving average of $6.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.44 and a current ratio of 3.05.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Thursday, August 1st. The mining company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). First Majestic Silver had a negative net margin of 15.37% and a negative return on equity of 4.39%. The firm had revenue of $136.20 million for the quarter, compared to the consensus estimate of $129.74 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The firm’s revenue was down 7.2% compared to the same quarter last year. Research analysts predict that First Majestic Silver Corp. will post -0.11 earnings per share for the current year.

First Majestic Silver Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.0046 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.32%. First Majestic Silver’s payout ratio is currently -12.50%.

Institutional Trading of First Majestic Silver

Hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp raised its holdings in First Majestic Silver by 5.1% during the 1st quarter. Van ECK Associates Corp now owns 31,876,555 shares of the mining company’s stock valued at $187,433,000 after buying an additional 1,534,710 shares during the period. Vanguard Group Inc. raised its stake in shares of First Majestic Silver by 1.8% in the first quarter. Vanguard Group Inc. now owns 10,451,621 shares of the mining company’s stock valued at $61,456,000 after acquiring an additional 186,570 shares during the period. Tidal Investments LLC lifted its holdings in shares of First Majestic Silver by 6,929.4% in the 1st quarter. Tidal Investments LLC now owns 5,174,889 shares of the mining company’s stock worth $30,406,000 after acquiring an additional 5,101,271 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of First Majestic Silver by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,158,908 shares of the mining company’s stock worth $18,701,000 after purchasing an additional 103,232 shares during the period. Finally, Sprott Inc. grew its holdings in First Majestic Silver by 0.5% during the 4th quarter. Sprott Inc. now owns 787,862 shares of the mining company’s stock valued at $4,838,000 after purchasing an additional 4,257 shares during the last quarter. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

About First Majestic Silver

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.