First Majestic Silver (NYSE:AG) Trading 4.9% Higher – Here’s What Happened

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shot up 4.9% during mid-day trading on Wednesday . The company traded as high as $5.69 and last traded at $5.50. 6,068,961 shares changed hands during trading, a decline of 47% from the average session volume of 11,443,509 shares. The stock had previously closed at $5.24.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of First Majestic Silver in a research report on Friday, February 21st. Scotiabank restated a “sector perform” rating and set a $6.00 price objective on shares of First Majestic Silver in a research report on Wednesday, April 2nd. StockNews.com raised First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. TD Securities upgraded First Majestic Silver to a “hold” rating in a report on Monday, March 10th. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of First Majestic Silver in a research note on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, First Majestic Silver currently has a consensus rating of “Hold” and a consensus price target of $8.50.

First Majestic Silver Price Performance

The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -17.93 and a beta of 0.97. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.12 and a current ratio of 2.56. The company has a fifty day simple moving average of $6.04 and a 200 day simple moving average of $6.18.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Thursday, February 20th. The mining company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The firm had revenue of $172.34 million for the quarter, compared to analyst estimates of $227.77 million. First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. Equities research analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.0057 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.36%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Friday, February 28th. First Majestic Silver’s payout ratio is currently -5.71%.

Institutional Investors Weigh In On First Majestic Silver

Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its stake in First Majestic Silver by 1,221.6% in the first quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company’s stock valued at $25,000 after buying an additional 3,506 shares during the period. Allworth Financial LP lifted 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 valued at $29,000 after acquiring an additional 4,591 shares during the period. Generali Investments CEE investicni spolecnost a.s. bought a new position in First Majestic Silver during the fourth quarter worth $55,000. Littlejohn Financial Services Inc. bought a new position in First Majestic Silver during the first quarter worth $68,000. Finally, Bank of Nova Scotia acquired a new stake in First Majestic Silver in the fourth quarter worth $57,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

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.