First Majestic Silver (NYSE:AG) Trading Down 7.8% – Here’s Why

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) traded down 7.8% during mid-day trading on Wednesday . The stock traded as low as $15.18 and last traded at $15.17. Approximately 4,667,764 shares were traded during trading, a decline of 75% from the average daily volume of 19,010,891 shares. The stock had previously closed at $16.45.

Wall Street Analysts Forecast Growth

AG has been the subject of a number of research analyst reports. Zacks Research lowered First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Weiss Ratings cut shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Wall Street Zen lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Scotiabank raised shares of First Majestic Silver to a “hold” rating in a research report on Thursday, April 23rd. Finally, BMO Capital Markets raised shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, First Majestic Silver currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.67.

First Majestic Silver Trading Down 0.3%

The company has a quick ratio of 2.54, a current ratio of 2.73 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $18.96 and a 200 day moving average of $20.92. The firm has a market cap of $8.44 billion, a PE ratio of 28.54 and a beta of 0.91.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted 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 return on equity of 11.19% and a net margin of 19.51%.The business had revenue of $476.67 million during the quarter, compared to analysts’ expectations of $522.00 million. During the same quarter in the previous year, the business earned $0.05 EPS. First Majestic Silver’s revenue for the quarter was up 95.3% on a year-over-year basis. Equities analysts anticipate that First Majestic Silver Corp. will post 0.74 earnings per share for the current year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 20th were paid a dividend of $0.0171 per share. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Wednesday, May 20th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s dividend payout ratio is presently 11.67%.

Institutional Investors Weigh In On First Majestic Silver

Institutional investors and hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership lifted its holdings in shares of First Majestic Silver by 408.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company’s stock worth $250,821,000 after acquiring an additional 12,081,688 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in First Majestic Silver by 38.5% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,932,368 shares of the mining company’s stock valued at $232,539,000 after purchasing an additional 5,265,612 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in First Majestic Silver in the first quarter worth approximately $62,760,000. Bank of America Corp DE lifted its holdings in shares of First Majestic Silver by 92.3% in the 1st quarter. Bank of America Corp DE now owns 6,082,824 shares of the mining company’s stock worth $130,659,000 after acquiring an additional 2,919,008 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new position in shares of First Majestic Silver during the 4th quarter valued at $45,898,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

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.