First Majestic Silver Corp. (NYSE:AG) Given Average Rating of “Hold” by Brokerages

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) have received an average rating of “Hold” from the five analysts that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $8.75.

Several brokerages recently issued reports on AG. TD Securities upgraded shares of First Majestic Silver to a “hold” rating in a research note on Monday, March 10th. National Bankshares reiterated a “sector perform” rating on shares of First Majestic Silver in a research note on Wednesday, April 2nd. Scotiabank reiterated a “sector perform” rating and issued a $6.00 target price on shares of First Majestic Silver in a research note on Wednesday, April 2nd. HC Wainwright raised their price objective on shares of First Majestic Silver from $11.00 to $11.50 and gave the stock a “buy” rating in a research report on Friday, May 9th. Finally, National Bank Financial upgraded shares of First Majestic Silver to a “hold” rating in a research report on Thursday, June 12th.

Institutional Investors Weigh In On First Majestic Silver

Several hedge funds have recently bought and sold shares of AG. Parallel Advisors LLC increased its holdings in shares of First Majestic Silver by 1,221.6% during the first quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company’s stock worth $25,000 after purchasing an additional 3,506 shares during the period. Allworth Financial LP increased its holdings in shares of First Majestic Silver by 805.4% during the fourth quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock worth $29,000 after purchasing an additional 4,591 shares during the period. AlphaQuest LLC bought a new position in shares of First Majestic Silver during the first quarter worth approximately $29,000. Banque Cantonale Vaudoise bought a new position in shares of First Majestic Silver during the first quarter worth approximately $46,000. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of First Majestic Silver during the fourth quarter worth approximately $55,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

First Majestic Silver Trading Up 1.0%

Shares of NYSE:AG opened at $8.14 on Friday. First Majestic Silver has a 52-week low of $4.43 and a 52-week high of $8.70. The company has a market capitalization of $3.94 billion, a P/E ratio of -28.07 and a beta of 0.74. The company has a 50-day simple moving average of $6.74 and a 200 day simple moving average of $6.21. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.74 and a current ratio of 3.19.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Wednesday, May 7th. The mining company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). First Majestic Silver had a negative net margin of 12.32% and a negative return on equity of 0.14%. The firm had revenue of $241.12 million during the quarter, compared to analyst estimates of $358.65 million. During the same quarter last year, the business posted ($0.05) earnings per share. The company’s revenue for the quarter was up 41.6% on a year-over-year basis. Sell-side analysts forecast that First Majestic Silver will post 0.54 earnings per share for the current year.

First Majestic Silver Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were given a dividend of $0.0045 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a yield of 0.32%. First Majestic Silver’s dividend payout ratio (DPR) is presently -3.45%.

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.