First Majestic Silver (TSE:FR) Stock Passes Below 200-Day Moving Average of $7.78

First Majestic Silver Corp. (TSE:FR) (NYSE:AG)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$7.78 and traded as low as C$6.78. First Majestic Silver shares last traded at C$7.01, with a volume of 427,453 shares.

Wall Street Analyst Weigh In

FR has been the topic of several research reports. TD Securities dropped their price objective on First Majestic Silver from C$10.00 to C$8.00 and set a “hold” rating on the stock in a report on Friday, November 3rd. BMO Capital Markets dropped their price target on First Majestic Silver from C$8.50 to C$8.00 and set a “market perform” rating on the stock in a research note on Monday, November 6th.

First Majestic Silver Price Performance

The company has a market cap of C$2.06 billion, a PE ratio of -8.99, a price-to-earnings-growth ratio of 0.14 and a beta of 1.03. The stock has a fifty day simple moving average of C$7.10 and a two-hundred day simple moving average of C$7.77. The company has a current ratio of 2.97, a quick ratio of 1.19 and a debt-to-equity ratio of 19.05.

First Majestic Silver Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Wednesday, November 15th will be issued a $0.006 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.33%. First Majestic Silver’s dividend payout ratio is presently -3.75%.

Insider Buying and Selling at First Majestic Silver

In related news, Senior Officer Todd Anthony sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of C$8.44, for a total value of C$84,400.00. 2.29% of the stock is currently owned by corporate insiders.

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 that consists of 119 individual concessions covering an area of 71,839 hectares located in Durango and Sinaloa States, México; the Santa Elena comprising 32 individual concessions that covers an area of 102,172 hectares located in Sonora State, México; and the La Encantada consists of 22 exploitation concessions covering an area of 4,076 hectares located in Coahuila State, México.