First Majestic Silver Corp. (NYSE:AG) Announces Quarterly Dividend of $0.02

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) announced a quarterly dividend on Tuesday, May 12th. Shareholders of record on Wednesday, May 20th will be given a dividend of 0.0171 per share by the mining company on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, May 20th. This is a 106.0% increase from First Majestic Silver’s previous quarterly dividend of $0.0083.

First Majestic Silver has a payout ratio of 12.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Majestic Silver to earn $1.07 per share next year, which means the company should continue to be able to cover its $0.03 annual dividend with an expected future payout ratio of 2.8%.

First Majestic Silver Stock Performance

Shares of NYSE:AG traded up $0.67 during midday trading on Tuesday, hitting $24.25. The company’s stock had a trading volume of 25,099,495 shares, compared to its average volume of 22,026,986. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.41 and a current ratio of 2.60. The stock’s 50 day simple moving average is $22.13 and its 200 day simple moving average is $19.36. The stock has a market capitalization of $11.95 billion, a price-to-earnings ratio of 69.28 and a beta of 0.85. First Majestic Silver has a fifty-two week low of $5.49 and a fifty-two week high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Tuesday, May 12th. The mining company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). First Majestic Silver had a net margin of 13.12% and a return on equity of 7.25%. The business’s quarterly revenue was up 95.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 EPS. As a group, research analysts anticipate that First Majestic Silver will post 0.72 earnings per share for the current year.

Analyst Ratings Changes

AG has been the subject of several research reports. BMO Capital Markets upgraded shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 24th. Weiss Ratings restated a “hold (c-)” rating on shares of First Majestic Silver in a research note on Wednesday, January 21st. Wall Street Zen cut First Majestic Silver from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 4th. HC Wainwright boosted their price target on shares of First Majestic Silver to $30.75 and gave the company a “buy” rating in a report on Tuesday. Finally, Zacks Research lowered shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.25.

First Majestic Silver Company Profile

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.