First Majestic Silver (NYSE:AG) Shares Gap Up to $7.96

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s share price gapped up prior to trading on Friday . The stock had previously closed at $7.96, but opened at $8.35. First Majestic Silver shares last traded at $8.23, with a volume of 3,688,273 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. HC Wainwright dropped their target price on First Majestic Silver from $12.00 to $6.75 and set a “buy” rating on the stock in a research report on Friday, January 19th. StockNews.com raised First Majestic Silver to a “sell” rating in a report on Monday, February 26th.

First Majestic Silver Trading Down 5.5 %

The company has a market capitalization of $2.16 billion, a PE ratio of -15.67 and a beta of 1.43. The company has a fifty day simple moving average of $5.48 and a 200-day simple moving average of $5.43. The company has a current ratio of 2.57, a quick ratio of 2.04 and a debt-to-equity ratio of 0.18.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Thursday, February 22nd. The mining company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. First Majestic Silver had a negative net margin of 23.55% and a negative return on equity of 1.85%. The firm had revenue of $136.95 million during the quarter. During the same period in the previous year, the business posted ($0.07) EPS. Analysts predict that First Majestic Silver Corp. will post -0.06 EPS for the current year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.0048 per share. The ex-dividend date was Wednesday, March 13th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a yield of 0.26%. First Majestic Silver’s dividend payout ratio is -4.17%.

Hedge Funds Weigh In On First Majestic Silver

Several institutional investors have recently modified their holdings of the business. Coppell Advisory Solutions LLC purchased a new position in First Majestic Silver in the second quarter valued at $27,000. CWM LLC raised its holdings in First Majestic Silver by 59.7% in the third quarter. CWM LLC now owns 5,433 shares of the mining company’s stock valued at $28,000 after acquiring an additional 2,030 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in First Majestic Silver by 19,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,000 shares of the mining company’s stock worth $33,000 after acquiring an additional 3,980 shares during the last quarter. Money Concepts Capital Corp purchased a new position in First Majestic Silver in the fourth quarter worth approximately $33,000. Finally, Coppell Advisory Solutions Corp. purchased a new stake in shares of First Majestic Silver in the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

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 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.