First Majestic Silver (NYSE:AG) Stock Price Up 7% – Should You Buy?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s stock price rose 7% during trading on Tuesday . The stock traded as high as $5.94 and last traded at $5.94. Approximately 4,017,911 shares were traded during trading, a decline of 67% from the average daily volume of 12,308,419 shares. The stock had previously closed at $5.55.

Analysts Set New Price Targets

AG has been the subject of several recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of First Majestic Silver in a report on Friday, January 10th. Scotiabank lowered their target price on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating for the company in a report on Wednesday.

First Majestic Silver Price Performance

The firm has a market capitalization of $1.68 billion, a P/E ratio of -20.61 and a beta of 1.25. The business has a fifty day moving average of $6.02 and a 200-day moving average of $6.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 3.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Thursday, November 7th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. The business had revenue of $146.09 million during the quarter. On average, sell-side analysts forecast that First Majestic Silver Corp. will post -0.17 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.0048 per share. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Friday, November 15th. First Majestic Silver’s dividend payout ratio (DPR) is presently -7.41%.

Hedge Funds Weigh In On First Majestic Silver

Several hedge funds have recently modified their holdings of the company. Synovus Financial Corp acquired a new position in shares of First Majestic Silver during the 3rd quarter valued at $452,000. Tidal Investments LLC increased its position in shares of First Majestic Silver by 1.8% during the 3rd quarter. Tidal Investments LLC now owns 5,780,689 shares of the mining company’s stock valued at $34,684,000 after purchasing an additional 99,640 shares during the period. Virtu Financial LLC increased its position in shares of First Majestic Silver by 95.9% during the 3rd quarter. Virtu Financial LLC now owns 136,356 shares of the mining company’s stock valued at $818,000 after purchasing an additional 66,750 shares during the period. Toronto Dominion Bank increased its position in shares of First Majestic Silver by 6.7% during the 3rd quarter. Toronto Dominion Bank now owns 29,404 shares of the mining company’s stock valued at $176,000 after purchasing an additional 1,855 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of First Majestic Silver by 9.8% during the 3rd quarter. Geode Capital Management LLC now owns 136,901 shares of the mining company’s stock valued at $825,000 after purchasing an additional 12,171 shares during the period. 27.16% of the stock is currently owned by institutional investors and hedge funds.

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.