First Majestic Silver (NYSE:AG) Shares Gap Up – Here’s What Happened

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shares gapped up before the market opened on Tuesday . The stock had previously closed at $7.09, but opened at $7.32. First Majestic Silver shares last traded at $7.36, with a volume of 2,748,634 shares traded.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AG shares. TD Securities upgraded First Majestic Silver to a “hold” rating in a research note on Monday, March 10th. HC Wainwright reiterated a “buy” rating and issued a $11.00 target price on shares of First Majestic Silver in a research report on Friday, February 21st. StockNews.com upgraded shares of First Majestic Silver from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Finally, 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 report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.50.

First Majestic Silver Stock Performance

The company has a market capitalization of $3.53 billion, a PE ratio of -20.86 and a beta of 1.16. The firm has a 50-day moving average of $5.75 and a two-hundred day moving average of $6.07. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Thursday, February 20th. The mining company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. The firm had revenue of $172.34 million for the quarter, compared to analysts’ expectations of $227.77 million. Research analysts anticipate that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.0057 per share. The ex-dividend date was Friday, February 28th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.31%. First Majestic Silver’s dividend payout ratio (DPR) is -5.71%.

Hedge Funds Weigh In On First Majestic Silver

Large investors have recently bought and sold shares of the business. PKO Investment Management Joint Stock Co purchased a new stake in shares of First Majestic Silver in the fourth quarter valued at approximately $723,000. Integrated Advisors Network LLC acquired a new position in First Majestic Silver during the fourth quarter worth $399,000. Mackenzie Financial Corp lifted its holdings in First Majestic Silver by 8.1% during the fourth quarter. Mackenzie Financial Corp now owns 155,262 shares of the mining company’s stock valued at $852,000 after purchasing an additional 11,649 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of First Majestic Silver by 6.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 88,896 shares of the mining company’s stock valued at $488,000 after purchasing an additional 5,099 shares during the period. Finally, Two Sigma Advisers LP increased its stake in shares of First Majestic Silver by 90.6% during the fourth quarter. Two Sigma Advisers LP now owns 118,715 shares of the mining company’s stock worth $652,000 after purchasing an additional 56,415 shares in the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

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.