First Majestic Silver Corp. (NYSE:AG) Increases Dividend to $0.01 Per Share

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) announced a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Stockholders of record on Friday, February 28th will be given a dividend of 0.0057 per share by the mining company on Friday, March 14th. This represents a $0.02 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Friday, February 28th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.0048.

First Majestic Silver has raised its dividend by an average of 5.1% per year over the last three years. First Majestic Silver has a dividend payout ratio of 4.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Majestic Silver to earn $0.54 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 3.7%.

First Majestic Silver Stock Performance

Shares of AG traded down $0.22 during trading hours on Friday, hitting $5.55. The stock had a trading volume of 20,044,452 shares, compared to its average volume of 17,973,529. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 3.03. The firm has a 50-day moving average price of $5.68 and a 200 day moving average price of $6.01. First Majestic Silver has a fifty-two week low of $4.28 and a fifty-two week high of $8.44. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -20.61 and a beta of 1.24.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Thursday, February 20th. The mining company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The company had revenue of $172.34 million for the quarter, compared to analyst estimates of $227.77 million. First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. As a group, research analysts anticipate that First Majestic Silver will post -0.18 EPS for the current year.

Analysts Set New Price Targets

AG has been the subject of a number of recent research reports. Scotiabank reduced their target price 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. 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.

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.