First Majestic Silver (NYSE:AG) Shares Gap Up to $6.70

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s share price gapped up prior to trading on Monday . The stock had previously closed at $6.70, but opened at $6.93. First Majestic Silver shares last traded at $7.00, with a volume of 1,938,340 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AG shares. HC Wainwright raised their price objective on First Majestic Silver from $7.00 to $8.50 and gave the stock a “buy” rating in a research report on Friday, April 19th. StockNews.com upgraded shares of First Majestic Silver to a “sell” rating in a research note on Monday, February 26th.

First Majestic Silver Stock Up 2.0 %

The company has a quick ratio of 2.04, a current ratio of 2.57 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -15.09 and a beta of 1.39. The business has a fifty day simple moving average of $6.27 and a two-hundred day simple moving average of $5.63.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, February 22nd. The mining company reported ($0.03) EPS for the quarter, topping 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 for the quarter. During the same period in the previous year, the firm earned ($0.07) earnings per share. Equities analysts expect that First Majestic Silver Corp. will post -0.01 EPS for the current year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.0048 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.02 dividend on an annualized basis and a yield of 0.26%. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio is currently -2.08%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Creekmur Asset Management LLC bought a new stake in shares of First Majestic Silver during the fourth quarter worth approximately $43,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of First Majestic Silver in the 1st quarter valued at approximately $48,000. Capstone Investment Advisors LLC bought a new position in shares of First Majestic Silver during the fourth quarter worth $69,000. AXQ Capital LP grew its stake in First Majestic Silver by 63.2% in the third quarter. AXQ Capital LP now owns 17,300 shares of the mining company’s stock valued at $89,000 after acquiring an additional 6,700 shares during the period. Finally, Capital Management Associates Inc bought a new position in shares of First Majestic Silver during the 4th quarter valued at about $92,000. Institutional investors and hedge funds 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.