First Majestic Silver (NYSE:AG) Trading 7.6% Higher – What’s Next?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) rose 7.6% during mid-day trading on Tuesday . The stock traded as high as $6.13 and last traded at $6.15. Approximately 11,844,783 shares changed hands during trading, a decline of 29% from the average daily volume of 16,780,662 shares. The stock had previously closed at $5.71.

Analysts Set New Price Targets

AG has been the topic of several research analyst reports. Scotiabank dropped their price objective on shares of First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 15th. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of First Majestic Silver in a research note on Friday, January 10th.

First Majestic Silver Trading Up 8.0 %

The business’s 50 day moving average price is $5.83 and its two-hundred day moving average price is $6.03. The company has a current ratio of 3.03, a quick ratio of 2.45 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -22.83 and a beta of 1.24.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued 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). The business had revenue of $146.09 million during the quarter. First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. On average, equities analysts predict that First Majestic Silver Corp. will post -0.16 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $0.0048 per share. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.02 annualized dividend and a yield of 0.31%. First Majestic Silver’s dividend payout ratio (DPR) is presently -7.41%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AG. Allworth Financial LP increased its stake in shares of First Majestic Silver by 805.4% in the 4th quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock valued at $29,000 after acquiring an additional 4,591 shares in the last quarter. Blue Trust Inc. increased its stake in shares of First Majestic Silver by 77.3% in the 3rd quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock valued at $31,000 after acquiring an additional 2,253 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of First Majestic Silver in the 3rd quarter valued at $70,000. Creative Planning bought a new stake in shares of First Majestic Silver in the 3rd quarter valued at $72,000. Finally, Corundum Trust Company INC bought a new stake in shares of First Majestic Silver in the 3rd quarter valued at $72,000. Institutional investors own 27.16% of the company’s stock.

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.