First Majestic Silver (TSE:AG) Trading 3.5% Higher – Time to Buy?

First Majestic Silver Corp. (TSE:AG) rose 3.5% during trading on Friday . The stock traded as high as C$28.74 and last traded at C$28.19. Approximately 8,369,722 shares were traded during trading, an increase of 341% from the average session volume of 1,896,180 shares. The stock had previously closed at C$27.24.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating and raised their price target for the company from C$36.00 to C$37.00 in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, First Majestic Silver presently has a consensus rating of “Buy” and an average price target of C$30.40.

First Majestic Silver Stock Performance

The business has a fifty day simple moving average of C$25.95 and a 200-day simple moving average of C$27.41. The firm has a market cap of C$13.90 billion, a price-to-earnings ratio of 40.27 and a beta of 2.94.

First Majestic Silver (TSE:AG) last announced its quarterly earnings results on Thursday, July 30th. The company reported C$0.30 EPS for the quarter. The firm had revenue of C$590.33 million for the quarter. First Majestic Silver had a return on equity of 12.27% and a net margin of 21.09%. On average, equities analysts anticipate that First Majestic Silver Corp. will post 0.4623323 earnings per share for the current year.

First Majestic Silver Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 31st were issued a $0.0152 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, August 14th. First Majestic Silver’s dividend payout ratio (DPR) is 5.06%.

First Majestic Silver Company Profile

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.