Analysts Set First Majestic Silver Corp. (NYSE:AG) Target Price at $8.50

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has received an average rating of “Hold” from the four brokerages that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $8.50.

AG has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $11.00 target price on shares of First Majestic Silver in a research note on Friday, February 21st. StockNews.com upgraded First Majestic Silver from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. National Bankshares restated a “sector perform” rating on shares of First Majestic Silver in a report on Wednesday, April 2nd. Scotiabank reaffirmed a “sector perform” rating and issued a $6.00 price target on shares of First Majestic Silver in a research note on Wednesday, April 2nd. Finally, TD Securities raised shares of First Majestic Silver to a “hold” rating in a research report on Monday, March 10th.

Institutional Investors Weigh In On First Majestic Silver

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RFG Advisory LLC purchased a new position in First Majestic Silver during the first quarter valued at $527,000. Parallel Advisors LLC increased its stake in shares of First Majestic Silver by 1,221.6% in the 1st quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company’s stock worth $25,000 after acquiring an additional 3,506 shares in the last quarter. PKO Investment Management Joint Stock Co purchased a new position in First Majestic Silver during the 4th quarter valued at about $723,000. Integrated Advisors Network LLC bought a new stake in First Majestic Silver during the fourth quarter worth about $399,000. Finally, Mackenzie Financial Corp grew its holdings in First Majestic Silver by 8.1% in the fourth quarter. Mackenzie Financial Corp now owns 155,262 shares of the mining company’s stock worth $852,000 after purchasing an additional 11,649 shares during the period. 27.16% of the stock is owned by hedge funds and other institutional investors.

First Majestic Silver Trading Up 13.0 %

NYSE AG opened at $5.92 on Monday. The firm has a market cap of $2.87 billion, a PE ratio of -16.91 and a beta of 0.97. First Majestic Silver has a 1-year low of $4.43 and a 1-year high of $8.44. The stock has a 50-day moving average of $6.03 and a 200-day moving average of $6.18. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The firm had revenue of $172.34 million during the quarter, compared to analysts’ expectations 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, sell-side analysts forecast that First Majestic Silver will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.0057 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio (DPR) is presently -5.71%.

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.