First Majestic Silver (NYSE:AG) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of First Majestic Silver (NYSE:AG) (TSE:FR) from a buy rating to a hold rating in a report issued on Saturday.

AG has been the topic of a number of other research reports. ATB Cormark Capital Markets upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 10th. Scotiabank reduced their price objective on shares of First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Weiss Ratings lowered shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Zacks Research cut shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, HC Wainwright cut their price target on shares of First Majestic Silver from $30.75 to $26.00 and set a “buy” rating for the company in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $23.50.

First Majestic Silver Trading Down 0.9%

Shares of NYSE:AG opened at $16.30 on Friday. The company has a market capitalization of $8.04 billion, a P/E ratio of 27.18 and a beta of 0.91. First Majestic Silver has a 1 year low of $7.74 and a 1 year high of $32.03. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.73 and a quick ratio of 2.54. The business’s 50 day simple moving average is $17.85 and its 200 day simple moving average is $20.86.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Tuesday, May 12th. The mining company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). The company had revenue of $476.67 million during the quarter, compared to analyst estimates of $522.00 million. First Majestic Silver had a net margin of 19.51% and a return on equity of 11.19%. First Majestic Silver’s revenue was up 95.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 earnings per share. On average, research analysts anticipate that First Majestic Silver will post 0.8 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 20th were given a dividend of $0.0171 per share. The ex-dividend date was Wednesday, May 20th. This represents a $0.07 annualized dividend and a dividend yield of 0.4%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s dividend payout ratio is currently 11.67%.

Institutional Trading of First Majestic Silver

Large investors have recently bought and sold shares of the business. Lodestone Wealth Management LLC acquired a new position in First Majestic Silver during the fourth quarter worth about $25,000. EFG International AG acquired a new stake in shares of First Majestic Silver in the 4th quarter valued at approximately $25,000. Harbor Investment Advisory LLC acquired a new stake in shares of First Majestic Silver in the 1st quarter valued at approximately $32,000. PNC Financial Services Group Inc. grew its holdings in shares of First Majestic Silver by 184.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock valued at $32,000 after purchasing an additional 978 shares during the last quarter. Finally, Spire Wealth Management bought a new stake in shares of First Majestic Silver during the 4th quarter valued at approximately $35,000. 27.16% of the stock is owned by institutional investors and hedge funds.

About First Majestic Silver

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.