First Majestic Silver (NYSE:AG) Sets New 12-Month High – What’s Next?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s stock price hit a new 52-week high on Monday . The stock traded as high as $27.23 and last traded at $27.4630, with a volume of 7118458 shares trading hands. The stock had previously closed at $25.44.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. HC Wainwright raised their target price on First Majestic Silver from $17.50 to $24.50 and gave the stock a “buy” rating in a research report on Friday, January 16th. National Bankshares set a $22.00 price target on shares of First Majestic Silver and gave the stock an “outperform” rating in a research note on Monday, October 6th. Wall Street Zen downgraded shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Majestic Silver in a research report on Wednesday. Finally, National Bank Financial raised First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research report on Sunday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Majestic Silver currently has an average rating of “Moderate Buy” and an average target price of $19.67.

First Majestic Silver Price Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.38. The company has a 50-day moving average price of $16.77 and a 200-day moving average price of $12.76. The firm has a market capitalization of $13.44 billion, a P/E ratio of 194.98 and a beta of 0.77.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Wednesday, November 5th. The mining company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.04). The business had revenue of $285.10 million during the quarter, compared to analyst estimates of $429.78 million. First Majestic Silver had a net margin of 7.07% and a return on equity of 3.14%. First Majestic Silver’s revenue for the quarter was up 95.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. On average, sell-side analysts predict that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were given a $0.0052 dividend. The ex-dividend date of this dividend was Friday, November 14th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 annualized dividend and a dividend yield of 0.1%. First Majestic Silver’s payout ratio is currently 14.29%.

Hedge Funds Weigh In On First Majestic Silver

Several institutional investors and hedge funds have recently modified their holdings of AG. Abbington Investment Group grew its stake in First Majestic Silver by 20.7% during the fourth quarter. Abbington Investment Group now owns 207,098 shares of the mining company’s stock worth $3,450,000 after buying an additional 35,458 shares in the last quarter. Farther Finance Advisors LLC raised its position in First Majestic Silver by 1,122.3% during the fourth quarter. Farther Finance Advisors LLC now owns 3,667 shares of the mining company’s stock valued at $61,000 after purchasing an additional 3,367 shares in the last quarter. Choreo LLC increased its stake in shares of First Majestic Silver by 1.7% in the 4th quarter. Choreo LLC now owns 72,628 shares of the mining company’s stock valued at $1,230,000 after purchasing an additional 1,216 shares during the last quarter. Lincoln Capital Corp lifted its holdings in shares of First Majestic Silver by 104.5% in the fourth quarter. Lincoln Capital Corp now owns 70,150 shares of the mining company’s stock worth $1,169,000 after acquiring an additional 35,850 shares during the last quarter. Finally, New Wave Wealth Advisors LLC bought a new position in First Majestic Silver in the 4th quarter valued at approximately $314,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

First Majestic Silver Company Profile

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.