First Majestic Silver (NYSE:AG) Stock Price Up 4.5%

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) rose 4.5% during mid-day trading on Friday . The stock traded as high as $5.86 and last traded at $5.84. Approximately 399,275 shares traded hands during trading, a decline of 93% from the average daily volume of 5,582,370 shares. The stock had previously closed at $5.59.

Analysts Set New Price Targets

AG has been the subject of several analyst reports. StockNews.com initiated coverage on shares of First Majestic Silver in a research report on Thursday, August 17th. They set a “sell” rating for the company. HC Wainwright cut their price target on shares of First Majestic Silver from $12.50 to $12.00 and set a “buy” rating for the company in a research report on Monday, August 7th. BMO Capital Markets initiated coverage on shares of First Majestic Silver in a research report on Thursday. They set a “market perform” rating for the company. Finally, TD Securities cut their price target on shares of First Majestic Silver from C$10.50 to C$10.00 in a research report on Friday, August 4th.

First Majestic Silver Trading Up 3.8 %

The company has a quick ratio of 2.43, a current ratio of 2.89 and a debt-to-equity ratio of 0.17. The stock’s fifty day moving average price is $6.13 and its two-hundred day moving average price is $6.31. The company has a market capitalization of $1.67 billion, a PE ratio of -10.18 and a beta of 1.12.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Thursday, August 3rd. The mining company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). The company had revenue of $146.69 million during the quarter. First Majestic Silver had a negative net margin of 25.46% and a negative return on equity of 3.26%. Sell-side analysts anticipate that First Majestic Silver Corp. will post -0.05 earnings per share for the current year.

First Majestic Silver Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Wednesday, August 16th were paid a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend was Tuesday, August 15th. First Majestic Silver’s payout ratio is currently -3.51%.

Hedge Funds Weigh In On First Majestic Silver

Institutional investors have recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC increased its stake in shares of First Majestic Silver by 105,048.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 47,055,036 shares of the mining company’s stock valued at $392,439,000 after purchasing an additional 47,010,285 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of First Majestic Silver by 12.2% during the first quarter. Van ECK Associates Corp now owns 29,511,019 shares of the mining company’s stock valued at $212,774,000 after purchasing an additional 3,199,855 shares in the last quarter. ETF Managers Group LLC bought a new position in shares of First Majestic Silver during the first quarter valued at approximately $93,028,000. Vanguard Group Inc. increased its stake in shares of First Majestic Silver by 3.7% during the third quarter. Vanguard Group Inc. now owns 7,742,001 shares of the mining company’s stock valued at $58,994,000 after purchasing an additional 274,239 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of First Majestic Silver by 35.9% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,572,919 shares of the mining company’s stock valued at $37,205,000 after purchasing an additional 1,737,375 shares in the last quarter. 31.43% of the stock is 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 that consists of 119 individual concessions covering an area of 71,839 hectares located in Durango and Sinaloa States, México; the Santa Elena comprising 32 individual concessions that covers an area of 102,172 hectares located in Sonora State, México; and the La Encantada consists of 22 exploitation concessions covering an area of 4,076 hectares located in Coahuila State, México.