First Majestic Silver Corp. (NYSE:AG) Given Consensus Rating of “Hold” by Analysts

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) have been given a consensus recommendation of “Hold” by the four research firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $8.75.

A number of research firms have recently weighed in on AG. Scotiabank reiterated a “sector perform” rating and set a $6.00 target price on shares of First Majestic Silver in a report on Wednesday, April 2nd. TD Securities upgraded First Majestic Silver to a “hold” rating in a research report on Monday, March 10th. Wall Street Zen raised First Majestic Silver from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. HC Wainwright increased their price objective on First Majestic Silver from $11.00 to $11.50 and gave the stock a “buy” rating in a report on Friday, May 9th. Finally, National Bankshares restated a “sector perform” rating on shares of First Majestic Silver in a report on Wednesday, April 2nd.

First Majestic Silver Stock Up 0.5%

AG opened at $5.90 on Tuesday. First Majestic Silver has a 12 month low of $4.43 and a 12 month high of $8.06. The company has a market cap of $2.86 billion, a PE ratio of -16.86 and a beta of 0.81. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $6.18 and a 200 day moving average of $6.00.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Wednesday, May 7th. The mining company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $241.12 million during the quarter, compared to analysts’ expectations of $358.65 million. First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. The business’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.05) earnings per share. On average, sell-side analysts expect that First Majestic Silver will post 0.54 EPS for the current year.

First Majestic Silver Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be paid a dividend of $0.0045 per share. This represents a yield of 0.32%. The ex-dividend date of this dividend is Friday, May 16th. First Majestic Silver’s dividend payout ratio is currently -3.45%.

Institutional Investors Weigh In On First Majestic Silver

A number of hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. raised its stake in First Majestic Silver by 3.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 101,652 shares of the mining company’s stock worth $680,000 after acquiring an additional 3,300 shares during the period. Bayforest Capital Ltd raised its position in shares of First Majestic Silver by 1,978.6% during the 1st quarter. Bayforest Capital Ltd now owns 213,843 shares of the mining company’s stock valued at $1,431,000 after buying an additional 203,555 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of First Majestic Silver by 355.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,193,589 shares of the mining company’s stock valued at $7,985,000 after acquiring an additional 931,690 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in shares of First Majestic Silver by 66.4% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 100,855 shares of the mining company’s stock worth $675,000 after purchasing an additional 40,228 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of First Majestic Silver by 11.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,845,005 shares of the mining company’s stock valued at $52,436,000 after purchasing an additional 820,664 shares during the last quarter. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

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.