First Majestic Silver (NYSE:AG) Shares Gap Down to $7.49

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $7.49, but opened at $7.20. First Majestic Silver shares last traded at $6.86, with a volume of 5,339,419 shares traded.

Analyst Upgrades and Downgrades

AG has been the topic of several recent analyst reports. HC Wainwright reduced their price objective on shares of First Majestic Silver from $12.00 to $6.75 and set a “buy” rating on the stock in a research note on Friday, January 19th. StockNews.com raised shares of First Majestic Silver to a “sell” rating in a research report on Monday, February 26th.

First Majestic Silver Price Performance

The company has a quick ratio of 2.04, a current ratio of 2.57 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.97 billion, a P/E ratio of -14.26 and a beta of 1.43. The firm has a fifty day simple moving average of $5.62 and a 200-day simple moving average of $5.48.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Thursday, February 22nd. The mining company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. First Majestic Silver had a negative return on equity of 1.85% and a negative net margin of 23.55%. The business had revenue of $136.95 million during the quarter. During the same period in the previous year, the company posted ($0.07) earnings per share. On average, equities research analysts expect that First Majestic Silver Corp. will post -0.06 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.0048 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.28%. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Wednesday, March 13th. First Majestic Silver’s dividend payout ratio (DPR) is presently -4.17%.

Hedge Funds Weigh In On First Majestic Silver

Large investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its position in First Majestic Silver by 19,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,000 shares of the mining company’s stock valued at $33,000 after purchasing an additional 3,980 shares during the last quarter. Money Concepts Capital Corp acquired a new stake in shares of First Majestic Silver in the 4th quarter valued at approximately $33,000. JPMorgan Chase & Co. boosted its holdings in shares of First Majestic Silver by 5,383.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,825 shares of the mining company’s stock valued at $63,000 after buying an additional 4,737 shares during the last quarter. Coppell Advisory Solutions LLC bought a new position in shares of First Majestic Silver in the second quarter valued at $27,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in First Majestic Silver during the fourth quarter worth $42,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

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.