HC Wainwright Increases First Majestic Silver (NYSE:AG) Price Target to $8.50

First Majestic Silver (NYSE:AG) (TSE:FR) had its target price raised by HC Wainwright from $7.00 to $8.50 in a research note released on Friday, Benzinga reports. The brokerage currently has a buy rating on the mining company’s stock.

Separately, StockNews.com raised First Majestic Silver to a sell rating in a research note on Monday, February 26th.

First Majestic Silver Price Performance

AG stock opened at $6.55 on Friday. The company has a market capitalization of $1.88 billion, a P/E ratio of -13.65 and a beta of 1.43. First Majestic Silver has a twelve month low of $4.17 and a twelve month high of $8.44. The business has a 50 day simple moving average of $5.75 and a 200-day simple moving average of $5.51. The company has a current ratio of 2.57, a quick ratio of 2.04 and a debt-to-equity ratio of 0.18.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Thursday, February 22nd. The mining company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. First Majestic Silver had a negative return on equity of 1.85% and a negative net margin of 23.55%. The business had revenue of $136.95 million during the quarter. During the same period in the previous year, the company posted ($0.07) earnings per share. As a group, equities analysts anticipate that First Majestic Silver will post -0.06 EPS for the current year.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.0048 dividend. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Wednesday, March 13th. First Majestic Silver’s payout ratio is currently -4.17%.

Institutional Investors Weigh In On First Majestic Silver

Hedge funds have recently modified their holdings of the stock. CWM LLC increased its holdings in First Majestic Silver by 59.7% during the 3rd quarter. CWM LLC now owns 5,433 shares of the mining company’s stock worth $28,000 after purchasing an additional 2,030 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in First Majestic Silver during the 4th quarter worth approximately $43,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in First Majestic Silver during the 1st quarter worth approximately $48,000. Capstone Investment Advisors LLC purchased a new stake in First Majestic Silver during the 4th quarter worth approximately $69,000. Finally, Kingswood Wealth Advisors LLC purchased a new stake in First Majestic Silver during the 3rd quarter worth approximately $77,000. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

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.