First Majestic Silver (NYSE:AG) Shares Up 3% – What’s Next?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shares rose 3% during mid-day trading on Friday . The company traded as high as $32.04 and last traded at $32.0240. Approximately 22,491,200 shares traded hands during trading, a decline of 20% from the average daily volume of 28,058,920 shares. The stock had previously closed at $31.10.

Wall Street Analyst Weigh In

Several brokerages recently commented on AG. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. Cormark raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 6th. Zacks Research upgraded shares of First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 19th. Scotiabank increased their price target on shares of First Majestic Silver from $12.50 to $23.00 and gave the stock a “sector perform” rating in a research report on Monday, January 26th. Finally, HC Wainwright raised their price target on shares of First Majestic Silver to $30.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

First Majestic Silver Trading Up 3.0%

The business has a 50 day simple moving average of $21.58 and a 200 day simple moving average of $15.34. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.38 and a quick ratio of 2.96. The company has a market cap of $15.79 billion, a price-to-earnings ratio of 91.50 and a beta of 0.85.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. First Majestic Silver had a return on equity of 7.41% and a net margin of 13.12%.The business had revenue of $463.92 million during the quarter, compared to analysts’ expectations of $561.30 million. During the same period in the previous year, the business posted $0.03 earnings per share. The firm’s revenue for the quarter was up 169.2% compared to the same quarter last year. As a group, equities analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a dividend of $0.0083 per share. The ex-dividend date is Friday, February 27th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.03 dividend on an annualized basis and a dividend yield of 0.1%. First Majestic Silver’s dividend payout ratio (DPR) is currently 5.71%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AG. Lodestone Wealth Management LLC bought a new position in First Majestic Silver in the 4th quarter valued at $25,000. EFG International AG bought a new stake in shares of First Majestic Silver during the fourth quarter worth $25,000. Bogart Wealth LLC acquired a new position in shares of First Majestic Silver during the third quarter valued at $28,000. Spire Wealth Management bought a new position in First Majestic Silver in the fourth quarter valued at about $35,000. Finally, Sound Income Strategies LLC increased its position in First Majestic Silver by 29,900.0% in the third quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock worth $37,000 after purchasing an additional 2,990 shares during the period. Institutional investors own 27.16% of the company’s stock.

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.