First Majestic Silver’s (AG) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of First Majestic Silver (NYSE:AG) (TSE:FR) in a report released on Friday morning,Benzinga reports. HC Wainwright currently has a $11.00 price objective on the mining company’s stock.

Separately, Scotiabank cut their price target on shares of First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 15th.

First Majestic Silver Price Performance

Shares of AG opened at $5.55 on Friday. First Majestic Silver has a twelve month low of $4.28 and a twelve month high of $8.44. The firm’s fifty day simple moving average is $5.67 and its 200-day simple moving average is $6.03. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -15.84 and a beta of 1.24. The company has a current ratio of 3.03, a quick ratio of 2.45 and a debt-to-equity ratio of 0.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data 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). First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.06%. The firm had revenue of $172.34 million during the quarter, compared to analyst estimates of $227.77 million. Equities analysts forecast 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 will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.0057 per share. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 annualized dividend and a yield of 0.41%. The ex-dividend date is Friday, February 28th. First Majestic Silver’s dividend payout ratio (DPR) is currently -5.71%.

Institutional Investors Weigh In On First Majestic Silver

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP raised its stake in First Majestic Silver by 805.4% during the 4th quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock worth $29,000 after acquiring an additional 4,591 shares in the last quarter. Blue Trust Inc. grew its position in First Majestic Silver by 77.3% during the 3rd quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock worth $31,000 after purchasing an additional 2,253 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in First Majestic Silver during the 4th quarter worth $55,000. Bank of Nova Scotia purchased a new position in First Majestic Silver during the 4th quarter worth $57,000. Finally, Captrust Financial Advisors purchased a new position in First Majestic Silver during the 4th quarter worth $58,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

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.