First Majestic Silver (NYSE:AG) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) from a sell rating to a hold rating in a research report released on Friday morning.

Other equities research analysts have also issued reports about the company. HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of First Majestic Silver in a report on Friday. Scotiabank dropped their price target on shares of First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 15th.

First Majestic Silver Stock Down 3.7 %

First Majestic Silver stock opened at $5.55 on Friday. The firm’s 50 day moving average price is $5.68 and its two-hundred day moving average price is $6.01. The firm has a market cap of $1.73 billion, a PE ratio of -20.54 and a beta of 1.24. First Majestic Silver has a twelve month low of $4.28 and a twelve month high of $8.44. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 3.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The firm had revenue of $172.34 million during the quarter, compared to the consensus estimate of $227.77 million. First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. On average, research analysts predict that First Majestic Silver will post -0.18 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.0057 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.41%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend is Friday, February 28th. First Majestic Silver’s payout ratio is currently -7.41%.

Hedge Funds Weigh In On First Majestic Silver

A number of large investors have recently modified their holdings of AG. Allworth Financial LP lifted its holdings in First Majestic Silver by 805.4% during the 4th quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock worth $29,000 after buying an additional 4,591 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of First Majestic Silver by 77.3% during the third quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock valued at $31,000 after acquiring an additional 2,253 shares during the period. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of First Majestic Silver during the fourth quarter valued at $55,000. Bank of Nova Scotia bought a new position in First Majestic Silver in the fourth quarter valued at about $57,000. Finally, Captrust Financial Advisors acquired a new stake in First Majestic Silver in the fourth quarter worth about $58,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

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.