First Majestic Silver Target of Unusually High Options Trading (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) saw some unusual options trading on Monday. Investors purchased 28,181 call options on the company. This is an increase of 52% compared to the typical daily volume of 18,510 call options.

Wall Street Analyst Weigh In

AG has been the subject of several recent analyst reports. National Bankshares reaffirmed a “sector perform” rating on shares of First Majestic Silver in a research note on Wednesday, April 2nd. TD Securities raised shares of First Majestic Silver to a “hold” rating in a research report on Monday, March 10th. HC Wainwright reiterated a “buy” rating and issued a $11.00 target price on shares of First Majestic Silver in a report on Friday, February 21st. Scotiabank reaffirmed a “sector perform” rating and issued a $6.00 price objective on shares of First Majestic Silver in a research note on Wednesday, April 2nd. Finally, StockNews.com raised shares of First Majestic Silver from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.50.

Institutional Trading of First Majestic Silver

Several hedge funds have recently added to or reduced their stakes in AG. Franklin Resources Inc. grew its holdings in First Majestic Silver by 8.3% during the fourth quarter. Franklin Resources Inc. now owns 23,240 shares of the mining company’s stock valued at $128,000 after purchasing an additional 1,776 shares during the period. Toronto Dominion Bank increased its stake in shares of First Majestic Silver by 6.7% in the third quarter. Toronto Dominion Bank now owns 29,404 shares of the mining company’s stock worth $176,000 after purchasing an additional 1,855 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of First Majestic Silver by 0.6% in the fourth quarter. CIBC Asset Management Inc now owns 370,255 shares of the mining company’s stock valued at $2,030,000 after purchasing an additional 2,288 shares during the period. Rathbones Group PLC lifted its stake in shares of First Majestic Silver by 4.3% during the 4th quarter. Rathbones Group PLC now owns 56,852 shares of the mining company’s stock valued at $312,000 after buying an additional 2,325 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its holdings in First Majestic Silver by 19.6% in the 4th quarter. Moors & Cabot Inc. now owns 17,100 shares of the mining company’s stock worth $94,000 after buying an additional 2,800 shares during the period. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Trading Down 0.7 %

NYSE AG opened at $6.61 on Wednesday. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $3.20 billion, a P/E ratio of -18.87 and a beta of 0.97. The business has a fifty day simple moving average of $6.07 and a 200 day simple moving average of $6.18. First Majestic Silver has a 12 month low of $4.43 and a 12 month high of $8.09.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, February 20th. The mining company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The business had revenue of $172.34 million during the quarter, compared to analysts’ expectations 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 will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.0057 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.02 annualized dividend and a yield of 0.35%. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio is presently -5.71%.

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.