First Majestic Silver Corp. (NYSE:AG) Stock Has Consensus Target Price of $24.75 According to Analysts

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) have earned an average rating of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $24.75.

AG has been the topic of a number of recent research reports. Wall Street Zen cut First Majestic Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. HC Wainwright boosted their price objective on shares of First Majestic Silver from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of First Majestic Silver in a research note on Wednesday, September 2nd. Scotiabank lowered their price objective on First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Finally, ATB Cormark Capital Markets raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 10th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. lifted its position in First Majestic Silver by 173.6% during the second quarter. Envestnet Asset Management Inc. now owns 67,600 shares of the mining company’s stock valued at $1,146,000 after purchasing an additional 42,893 shares during the last quarter. State Street Corp grew its stake in First Majestic Silver by 17.0% in the 2nd quarter. State Street Corp now owns 12,773 shares of the mining company’s stock worth $217,000 after buying an additional 1,856 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of First Majestic Silver by 63.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,516,832 shares of the mining company’s stock worth $59,610,000 after buying an additional 1,371,189 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of First Majestic Silver in the 2nd quarter worth $422,000. Finally, Engineers Gate Manager LP raised its position in shares of First Majestic Silver by 95.4% during the 2nd quarter. Engineers Gate Manager LP now owns 116,087 shares of the mining company’s stock valued at $1,969,000 after buying an additional 56,675 shares in the last quarter. 27.16% of the stock is currently owned by institutional investors.

First Majestic Silver Stock Up 2.0%

First Majestic Silver stock opened at $16.98 on Friday. The firm has a 50 day simple moving average of $19.17 and a 200 day simple moving average of $19.10. The company has a current ratio of 2.57, a quick ratio of 2.38 and a debt-to-equity ratio of 0.08. First Majestic Silver has a 1-year low of $10.19 and a 1-year high of $32.03. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 23.92 and a beta of 0.97.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Thursday, July 30th. The mining company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%.The company had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $496.00 million. During the same quarter in the prior year, the company earned $0.11 EPS. The company’s revenue was up 57.3% on a year-over-year basis. On average, analysts predict that First Majestic Silver will post 0.81 earnings per share for the current year.

First Majestic Silver Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were given a dividend of $0.0152 per share. This is a drop from First Majestic Silver’s previous quarterly dividend of $0.0171. The ex-dividend date was Friday, August 14th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.4%. First Majestic Silver’s dividend payout ratio is 8.45%.

About First Majestic Silver

First Majestic Silver Corp. is a mining company focused on the exploration, development and production of silver, gold and related metals. The company also produces and sells investment-grade silver bullion through its own minting and retail operations.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically operated a portfolio of silver-producing mines in Mexico, including San Dimas in Durango, Santa Elena in Sonora and La Encantada in Coahuila.