First Majestic Silver (NYSE:AG) Upgraded by TD Securities to “Hold” Rating

TD Securities upgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) to a hold rating in a research report released on Monday,Zacks.com reports.

AG has been the topic of a number of other reports. Scotiabank reduced 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 report on Wednesday, January 15th. StockNews.com upgraded First Majestic Silver from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Finally, HC Wainwright restated a “buy” rating and set a $11.00 target price on shares of First Majestic Silver in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, First Majestic Silver currently has an average rating of “Hold” and an average price target of $8.50.

First Majestic Silver Trading Up 10.4 %

Shares of First Majestic Silver stock opened at $6.13 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 2.12. The company’s fifty day moving average price is $5.68 and its two-hundred day moving average price is $6.04. First Majestic Silver has a 52-week low of $4.43 and a 52-week high of $8.44. The firm has a market capitalization of $2.97 billion, a PE ratio of -17.50 and a beta of 1.16.

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

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.0057 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.37%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio is -5.71%.

Institutional Investors Weigh In On First Majestic Silver

A number of institutional investors have recently made changes to their positions in AG. Allworth Financial LP grew its position in shares of 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 buying an additional 4,591 shares during the period. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of First Majestic Silver in the 4th quarter valued at $55,000. Bank of Nova Scotia bought a new stake in shares of First Majestic Silver in the 4th quarter valued at $57,000. Captrust Financial Advisors acquired a new stake in First Majestic Silver during the 4th quarter worth $58,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of First Majestic Silver during the third quarter worth about $70,000. 27.16% of the stock is 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.