Traders Purchase Large Volume of First Majestic Silver Call Options (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) was the target of some unusual options trading on Friday. Stock traders acquired 25,196 call options on the company. This represents an increase of approximately 58% compared to the typical volume of 15,949 call options.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. PKO Investment Management Joint Stock Co acquired a new position in First Majestic Silver during the fourth quarter worth $723,000. Integrated Advisors Network LLC bought a new stake in shares of First Majestic Silver during the 4th quarter worth about $399,000. Mackenzie Financial Corp increased its holdings in shares of First Majestic Silver by 8.1% during the 4th quarter. Mackenzie Financial Corp now owns 155,262 shares of the mining company’s stock valued at $852,000 after acquiring an additional 11,649 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of First Majestic Silver by 6.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 88,896 shares of the mining company’s stock valued at $488,000 after acquiring an additional 5,099 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in First Majestic Silver by 90.6% in the 4th quarter. Two Sigma Advisers LP now owns 118,715 shares of the mining company’s stock worth $652,000 after purchasing an additional 56,415 shares during the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Trading Down 3.1 %

Shares of NYSE:AG opened at $6.76 on Friday. First Majestic Silver has a 12-month low of $4.43 and a 12-month high of $8.44. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $3.27 billion, a P/E ratio of -19.30 and a beta of 1.16. The firm has a fifty day moving average of $5.96 and a two-hundred day moving average of $6.17.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. The firm had revenue of $172.34 million during the quarter, compared to analysts’ expectations of $227.77 million. On average, equities analysts expect that First Majestic Silver will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.0057 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a yield of 0.34%. First Majestic Silver’s payout ratio is -5.71%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of First Majestic Silver in a research note on Friday, February 21st. StockNews.com raised shares of First Majestic Silver from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Scotiabank reduced their price target on shares of First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 15th. Finally, TD Securities upgraded shares of First Majestic Silver to a “hold” rating in a research report on Monday, March 10th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.50.

About First Majestic Silver

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.