First Majestic Silver (TSE:AG) Releases Quarterly Earnings Results

First Majestic Silver (TSE:AG) released its quarterly earnings results on Thursday. The company reported C$0.27 EPS for the quarter, FiscalAI reports. First Majestic Silver had a net margin of 21.09% and a return on equity of 12.27%. The business had revenue of C$561.06 million for the quarter.

First Majestic Silver Stock Down 3.1%

Shares of AG traded down C$0.67 during trading hours on Thursday, hitting C$20.84. 1,727,865 shares of the company were exchanged, compared to its average volume of 1,861,410. The company has a market cap of C$10.28 billion, a price-to-earnings ratio of 29.77 and a beta of 2.96. First Majestic Silver has a fifty-two week low of C$15.13 and a fifty-two week high of C$43.69. The firm’s fifty day moving average is C$25.10 and its 200 day moving average is C$27.64.

First Majestic Silver Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 31st were issued a dividend of $0.0152 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, August 14th. First Majestic Silver’s dividend payout ratio is 5.06%.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating and boosted their price objective for the company from C$36.00 to C$37.00 in a report on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$36.00.

First Majestic Silver Company Profile

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Santa Elena Silver/Gold Mine, the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the San Dimas Silver/Gold Mine, and La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold Mine, which the Company is currently in the process of re-starting.