First Majestic Silver (NYSE:AG) Shares Up 5.4% – Here’s Why

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shares traded up 5.4% during mid-day trading on Tuesday . The stock traded as high as $5.99 and last traded at $5.85. 1,470,398 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 10,436,908 shares. The stock had previously closed at $5.55.

Analyst Ratings Changes

Several research analysts have commented on the stock. HC Wainwright reissued a “buy” rating and set a $11.00 price target on shares of First Majestic Silver in a research note on Friday, February 21st. TD Securities raised shares of First Majestic Silver to a “hold” rating in a research note on Monday. StockNews.com upgraded shares of First Majestic Silver from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Scotiabank decreased their price objective on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.50.

First Majestic Silver Stock Up 3.5 %

The firm has a market cap of $3.08 billion, a PE ratio of -18.00 and a beta of 1.16. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.12 and a current ratio of 2.56. The company’s 50-day simple moving average is $5.69 and its two-hundred day simple moving average is $6.04.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Thursday, February 20th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $172.34 million during the quarter, compared to the consensus estimate of $227.77 million. First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. On average, analysts predict that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.0057 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio is currently -5.71%.

Institutional Trading of First Majestic Silver

Several large investors have recently added to or reduced their stakes in AG. PKO Investment Management Joint Stock Co purchased a new stake in shares of First Majestic Silver in the 4th quarter worth about $723,000. Integrated Advisors Network LLC purchased a new stake in First Majestic Silver in the fourth quarter worth about $399,000. Mackenzie Financial Corp lifted its holdings in First Majestic Silver by 8.1% in the fourth quarter. Mackenzie Financial Corp now owns 155,262 shares of the mining company’s stock worth $852,000 after buying an additional 11,649 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in First Majestic Silver by 6.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 88,896 shares of the mining company’s stock worth $488,000 after buying an additional 5,099 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in First Majestic Silver by 90.6% in the fourth quarter. Two Sigma Advisers LP now owns 118,715 shares of the mining company’s stock worth $652,000 after buying an additional 56,415 shares during the period. 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.