First Majestic Silver (NYSE:AG) Upgraded to “Hold” at TD Securities

TD Securities upgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other equities analysts also recently issued reports on the stock. StockNews.com raised shares of First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Scotiabank cut their target price on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 15th. Finally, 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, February 21st. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.50.

First Majestic Silver Price Performance

Shares of NYSE AG opened at $6.13 on Monday. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of -17.50 and a beta of 1.16. First Majestic Silver has a twelve month low of $4.43 and a twelve month high of $8.44. The business has a 50 day simple moving average of $5.68 and a 200-day simple moving average of $6.04.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results 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 business 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 3.07% and a negative net margin of 18.17%. As a group, equities research analysts expect that First Majestic Silver will post 0.54 earnings per share for the current year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.0057 dividend. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date is Friday, February 28th. This represents a $0.02 annualized dividend and a yield of 0.37%. First Majestic Silver’s payout ratio is -5.71%.

Institutional Investors Weigh In On First Majestic Silver

Large investors have recently modified their holdings of the stock. Tidal Investments LLC boosted its position in First Majestic Silver by 135.2% during the fourth quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company’s stock valued at $74,647,000 after purchasing an additional 7,816,177 shares during the last quarter. Renaissance Technologies LLC increased its holdings in First Majestic Silver by 897.8% in the fourth quarter. Renaissance Technologies LLC now owns 3,759,181 shares of the mining company’s stock worth $20,638,000 after buying an additional 3,382,443 shares during the last quarter. Two Sigma Investments LP increased its holdings in First Majestic Silver by 46.8% in the fourth quarter. Two Sigma Investments LP now owns 4,455,923 shares of the mining company’s stock worth $24,463,000 after buying an additional 1,420,937 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in First Majestic Silver by 115.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 1,520,359 shares of the mining company’s stock valued at $8,347,000 after acquiring an additional 814,153 shares during the last quarter. Finally, Trexquant Investment LP grew its position in First Majestic Silver by 161.0% in the fourth quarter. Trexquant Investment LP now owns 1,026,729 shares of the mining company’s stock worth $5,637,000 after acquiring an additional 633,413 shares in the last quarter. 27.16% of the stock is owned by institutional investors.

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.