BMO Capital Markets Trims First Majestic Silver (NYSE:AG) Target Price to C$10.50

First Majestic Silver (NYSE:AG – Get Rating) (TSE:FR) had its price objective decreased by BMO Capital Markets from C$12.00 to C$10.50 in a research note released on Friday morning, The Fly reports.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised First Majestic Silver from a strong sell rating to a hold rating in a report on Tuesday, March 22nd. HC Wainwright reaffirmed a buy rating and set a $22.00 price objective on shares of First Majestic Silver in a report on Tuesday, April 19th. StockNews.com initiated coverage on First Majestic Silver in a report on Thursday, March 31st. They issued a sell rating for the company. TD Securities cut their price target on First Majestic Silver from C$20.00 to C$12.00 in a report on Friday. Finally, TheStreet cut First Majestic Silver from a c rating to a d+ rating in a report on Friday, April 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $15.63.

Shares of AG traded up $0.74 during mid-day trading on Friday, hitting $8.17. The company’s stock had a trading volume of 7,827,947 shares, compared to its average volume of 6,202,900. The company has a current ratio of 2.30, a quick ratio of 1.95 and a debt-to-equity ratio of 0.15. The firm has a 50-day simple moving average of $12.30 and a 200 day simple moving average of $11.80. The firm has a market capitalization of $2.14 billion, a P/E ratio of -817,000.00 and a beta of 1.01. First Majestic Silver has a 1-year low of $7.24 and a 1-year high of $18.93.

First Majestic Silver (NYSE:AG – Get Rating) (TSE:FR) last issued its quarterly earnings data on Thursday, March 10th. The mining company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm had revenue of $204.90 million for the quarter, compared to analyst estimates of $263.74 million. First Majestic Silver had a positive return on equity of 0.45% and a negative net margin of 0.84%. The business’s revenue for the quarter was up 75.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.11 earnings per share. As a group, sell-side analysts predict that First Majestic Silver will post 0.26 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Wednesday, May 25th will be issued a dividend of $0.006 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Tuesday, May 24th. First Majestic Silver’s dividend payout ratio (DPR) is presently -300,000.00%.

Several large investors have recently bought and sold shares of the company. Mackenzie Financial Corp increased its position in First Majestic Silver by 50.3% in the 1st quarter. Mackenzie Financial Corp now owns 362,626 shares of the mining company’s stock valued at $4,773,000 after acquiring an additional 121,321 shares during the period. NewEdge Advisors LLC bought a new stake in shares of First Majestic Silver during the 1st quarter worth $255,000. Vanguard Group Inc. boosted its position in shares of First Majestic Silver by 2.9% in the first quarter. Vanguard Group Inc. now owns 7,268,464 shares of the mining company’s stock worth $95,654,000 after buying an additional 205,369 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of First Majestic Silver in the first quarter worth $142,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of First Majestic Silver by 127.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,322,713 shares of the mining company’s stock worth $17,408,000 after buying an additional 740,867 shares during the period. 39.65% of the stock is owned by institutional investors.

About First Majestic Silver (Get Rating)

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. It holds 100% interests in the San Dimas Silver/Gold Mine covering an area of 71,868 hectares located in Durango and Sinaloa states; the Santa Elena Silver/Gold Mine covering an area of 102,244 hectares located in Sonora; Jerritt Canyon gold mine that covers an area of approximately of 30,821 hectares located in Elko County, Nevada; and the La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila, as well as surface land ownership of 1,343 hectares.

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