First Majestic Silver (NYSE:AG) Shares Up 5.4% – What’s Next?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s stock price was up 5.4% during mid-day trading on Tuesday . The company traded as high as $5.99 and last traded at $5.85. Approximately 1,470,398 shares changed hands during trading, a decline of 86% from the average daily volume of 10,436,908 shares. The stock had previously closed at $5.55.

Analysts Set New Price Targets

AG has been the topic of a number of research reports. Scotiabank lowered their price target on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 15th. StockNews.com raised First Majestic Silver from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Finally, HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of First Majestic Silver in a research note on Friday, February 21st.

First Majestic Silver Stock Up 6.8 %

The firm has a 50 day moving average price of $5.66 and a two-hundred day moving average price of $6.04. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -16.93 and a beta of 1.16. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, February 20th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. The business had revenue of $172.34 million for the quarter, compared to analysts’ expectations of $227.77 million. On average, equities analysts expect that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.0057 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 annualized dividend and a yield of 0.38%. First Majestic Silver’s dividend payout ratio (DPR) is -5.71%.

Institutional Investors Weigh In On First Majestic Silver

A number of large investors have recently modified their holdings of the stock. Integrated Advisors Network LLC purchased a new position in First Majestic Silver in the 4th quarter worth approximately $399,000. Mackenzie Financial Corp grew its holdings in First Majestic Silver by 8.1% during the 4th quarter. Mackenzie Financial Corp now owns 155,262 shares of the mining company’s stock valued at $852,000 after purchasing an additional 11,649 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in First Majestic Silver by 6.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 88,896 shares of the mining company’s stock worth $488,000 after buying an additional 5,099 shares in the last quarter. Two Sigma Advisers LP boosted its position in First Majestic Silver by 90.6% in the 4th quarter. Two Sigma Advisers LP now owns 118,715 shares of the mining company’s stock valued at $652,000 after buying an additional 56,415 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in shares of First Majestic Silver by 46.8% during the fourth quarter. Two Sigma Investments LP now owns 4,455,923 shares of the mining company’s stock worth $24,463,000 after acquiring an additional 1,420,937 shares during the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

About First Majestic Silver

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.