First Majestic Silver (NYSE:AG) Stock Price Up 4.8% – What’s Next?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) rose 4.8% during trading on Wednesday . The stock traded as high as $5.59 and last traded at $5.60. Approximately 1,667,870 shares changed hands during trading, a decline of 89% from the average daily volume of 15,490,205 shares. The stock had previously closed at $5.34.

Analyst Upgrades and Downgrades

A number of analysts have commented on AG shares. HC Wainwright reiterated a “buy” rating and issued a $11.00 price target on shares of First Majestic Silver in a research note on Friday, January 10th. Scotiabank dropped their price target on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating for the company in a report on Wednesday, January 15th.

First Majestic Silver Stock Up 1.6 %

The firm has a 50 day simple moving average of $5.87 and a two-hundred day simple moving average of $6.05. The stock has a market capitalization of $1.64 billion, a P/E ratio of -20.17 and a beta of 1.25. The company has a quick ratio of 2.45, a current ratio of 3.03 and a debt-to-equity ratio of 0.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, November 7th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). The business had revenue of $146.09 million during the quarter. First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. On average, equities research analysts expect that First Majestic Silver Corp. will post -0.16 earnings per share for the current year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.0048 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s payout ratio is presently -7.41%.

Hedge Funds Weigh In On First Majestic Silver

Large investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in First Majestic Silver by 77.3% during the 3rd quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock worth $31,000 after buying an additional 2,253 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of First Majestic Silver in the third quarter worth approximately $70,000. Dark Forest Capital Management LP bought a new stake in First Majestic Silver in the second quarter valued at approximately $70,000. Creative Planning acquired a new stake in First Majestic Silver during the 3rd quarter valued at approximately $72,000. Finally, Corundum Trust Company INC bought a new position in First Majestic Silver during the 3rd quarter worth approximately $72,000. 27.16% of the stock is currently owned by 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.