First Majestic Silver Corp. (NYSE:AG) Receives Average Recommendation of “Hold” from Brokerages

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) have been given a consensus recommendation of “Hold” by the three ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $8.50.

Several research firms recently issued reports on AG. TD Securities raised shares of First Majestic Silver to a “hold” rating in a report on Monday, March 10th. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of First Majestic Silver in a report on Friday, February 21st. National Bankshares restated a “sector perform” rating on shares of First Majestic Silver in a research note on Wednesday. Scotiabank reiterated a “sector perform” rating and issued a $6.00 price objective on shares of First Majestic Silver in a research report on Wednesday, April 2nd. Finally, StockNews.com upgraded shares of First Majestic Silver from a “sell” rating to a “hold” rating in a research report on Friday, February 21st.

Institutional Trading of First Majestic Silver

Several institutional investors and hedge funds have recently made changes to their positions in AG. Tidal Investments LLC raised its stake in First Majestic Silver by 135.2% in the 4th quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company’s stock valued at $74,647,000 after purchasing an additional 7,816,177 shares during the last quarter. Vanguard Group Inc. raised its position in shares of First Majestic Silver by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 11,423,691 shares of the mining company’s stock valued at $62,784,000 after buying an additional 598,996 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of First Majestic Silver by 46.8% during the fourth quarter. Two Sigma Investments LP now owns 4,455,923 shares of the mining company’s stock valued at $24,463,000 after buying an additional 1,420,937 shares during the period. Renaissance Technologies LLC grew its stake in First Majestic Silver by 897.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,759,181 shares of the mining company’s stock worth $20,638,000 after acquiring an additional 3,382,443 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in First Majestic Silver by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,472,159 shares of the mining company’s stock valued at $19,060,000 after acquiring an additional 121,892 shares during the last quarter. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

First Majestic Silver Stock Performance

Shares of AG traded down $0.15 during mid-day trading on Monday, reaching $5.43. 8,470,144 shares of the company’s stock were exchanged, compared to its average volume of 11,398,959. The business’s fifty day simple moving average is $6.04 and its 200-day simple moving average is $6.20. The stock has a market capitalization of $2.63 billion, a PE ratio of -15.53 and a beta of 0.97. First Majestic Silver has a 52-week low of $4.43 and a 52-week high of $8.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 2.12.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data 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 net margin of 18.17% and a negative return on equity of 3.07%. The business had revenue of $172.34 million during the quarter, compared to analyst estimates of $227.77 million. On average, equities research analysts expect that First Majestic Silver will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.0057 per share. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Friday, February 28th. This represents a $0.02 annualized dividend and a yield of 0.42%. First Majestic Silver’s dividend payout ratio (DPR) 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.