First Majestic Silver (NYSE:AG) Stock Price Up 7% – What’s Next?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s stock price shot up 7% during trading on Wednesday . The stock traded as high as $5.76 and last traded at $5.76. 4,932,010 shares were traded during mid-day trading, a decline of 52% from the average session volume of 10,285,332 shares. The stock had previously closed at $5.38.

Wall Street Analysts Forecast Growth

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

First Majestic Silver Trading Up 7.2 %

The business’s 50 day moving average price is $5.65 and its two-hundred day moving average price is $6.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.12 and a current ratio of 2.56. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -16.44 and a beta of 1.24.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, February 20th. The mining company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $172.34 million during the quarter, compared to analyst estimates of $227.77 million. Equities analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.0057 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.02 annualized dividend and a yield of 0.40%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio (DPR) is currently -5.71%.

Institutional Investors Weigh In On First Majestic Silver

Institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning acquired a new stake in shares of First Majestic Silver during the 3rd quarter valued at $72,000. Oxbow Advisors LLC lifted its holdings in shares of First Majestic Silver by 25.6% during the third quarter. Oxbow Advisors LLC now owns 43,676 shares of the mining company’s stock valued at $262,000 after purchasing an additional 8,899 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of First Majestic Silver by 3.1% in the 3rd quarter. CIBC Asset Management Inc now owns 367,967 shares of the mining company’s stock valued at $2,210,000 after purchasing an additional 11,198 shares during the period. Euro Pacific Asset Management LLC increased its stake in First Majestic Silver by 14.4% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 41,211 shares of the mining company’s stock worth $251,000 after purchasing an additional 5,181 shares in the last quarter. Finally, Sage Advisors LLC purchased a new stake in First Majestic Silver during the third quarter valued at about $112,000. 27.16% of the stock is 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.