First Majestic Silver (NYSE:AG) Shares Gap Up – Here’s What Happened

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shares gapped up prior to trading on Thursday . The stock had previously closed at $7.28, but opened at $7.79. First Majestic Silver shares last traded at $8.45, with a volume of 17,147,076 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AG. TD Securities raised First Majestic Silver to a “hold” rating in a research note on Monday, March 10th. National Bankshares reiterated a “sector perform” rating on shares of First Majestic Silver in a report on Wednesday, April 2nd. Wall Street Zen raised shares of First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. HC Wainwright raised their price target on shares of First Majestic Silver from $11.00 to $11.50 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, Scotiabank reiterated a “sector perform” rating and set a $6.00 price target on shares of First Majestic Silver in a report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.75.

First Majestic Silver Trading Down 1.7%

The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.16. The company has a market cap of $4.00 billion, a price-to-earnings ratio of -23.63 and a beta of 0.74. The firm has a 50 day moving average price of $6.16 and a two-hundred day moving average price of $6.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Wednesday, May 7th. The mining company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. The company had revenue of $241.12 million during the quarter, compared to the consensus estimate of $358.65 million. During the same quarter in the previous year, the company earned ($0.05) earnings per share. The business’s revenue was up 41.6% on a year-over-year basis. As a group, equities analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were paid a $0.0045 dividend. This represents a dividend yield of 0.32%. The ex-dividend date was Friday, May 16th. First Majestic Silver’s dividend payout ratio is currently -3.45%.

Hedge Funds Weigh In On First Majestic Silver

A number of hedge funds have recently bought and sold shares of AG. Parallel Advisors LLC boosted its position in First Majestic Silver by 1,221.6% during the first quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company’s stock valued at $25,000 after acquiring an additional 3,506 shares during the last quarter. Allworth Financial LP boosted 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 purchasing an additional 4,591 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of First Majestic Silver during the 1st quarter valued at about $29,000. Banque Cantonale Vaudoise acquired a new stake in First Majestic Silver during the first quarter worth approximately $46,000. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new stake in First Majestic Silver in the fourth quarter worth approximately $55,000. Institutional investors 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.