First Majestic Silver (NYSE:AG) Rating Increased to Hold at National Bank Financial

National Bank Financial upgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) to a hold rating in a report issued on Thursday morning,Zacks.com reports.

Other research analysts also recently issued reports about the company. Scotiabank restated a “sector perform” rating and set a $6.00 target price on shares of First Majestic Silver in a research note on Wednesday, April 2nd. Wall Street Zen upgraded First Majestic Silver from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. HC Wainwright boosted their price target on First Majestic Silver from $11.00 to $11.50 and gave the company a “buy” rating in a research note on Friday, May 9th. National Bankshares reiterated a “sector perform” rating on shares of First Majestic Silver in a research note on Wednesday, April 2nd. Finally, TD Securities upgraded First Majestic Silver to a “hold” rating in a research note on Monday, March 10th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.75.

First Majestic Silver Trading Up 1.0%

Shares of NYSE AG opened at $8.33 on Thursday. First Majestic Silver has a twelve month low of $4.43 and a twelve month high of $8.66. The business has a fifty day simple moving average of $6.38 and a two-hundred day simple moving average of $6.10. The firm has a market cap of $4.03 billion, a PE ratio of -23.79 and a beta of 0.74. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Wednesday, May 7th. The mining company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. The company had revenue of $241.12 million during the quarter, compared to analysts’ expectations of $358.65 million. During the same quarter in the prior year, the business posted ($0.05) earnings per share. The company’s revenue was up 41.6% compared to the same quarter last year. Analysts expect that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Announces Dividend

The business also recently announced a dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were paid a $0.0045 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a dividend yield of 0.32%. First Majestic Silver’s payout ratio is -3.45%.

Institutional Trading of First Majestic Silver

A number of hedge funds have recently modified their holdings of AG. Principal Securities Inc. boosted its stake in shares of First Majestic Silver by 30.3% in the fourth quarter. Principal Securities Inc. now owns 21,500 shares of the mining company’s stock worth $118,000 after buying an additional 5,000 shares during the last quarter. Allworth Financial LP raised its holdings in First Majestic Silver by 805.4% in the 4th quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock worth $29,000 after purchasing an additional 4,591 shares during the period. CIBC Asset Management Inc raised its holdings in First Majestic Silver by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 370,255 shares of the mining company’s stock worth $2,030,000 after purchasing an additional 2,288 shares during the period. Pine Valley Investments Ltd Liability Co raised its holdings in First Majestic Silver by 6.1% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 186,978 shares of the mining company’s stock worth $1,027,000 after purchasing an additional 10,686 shares during the period. Finally, Sprott Inc. raised its holdings in First Majestic Silver by 26.3% in the 4th quarter. Sprott Inc. now owns 655,445 shares of the mining company’s stock worth $3,600,000 after purchasing an additional 136,348 shares during the period. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Company Profile

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.