First Majestic Silver (NYSE:AG) Upgraded at National Bank Financial

National Bank Financial upgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Several other brokerages have also recently issued reports on AG. HC Wainwright upped their target price on First Majestic Silver from $11.00 to $11.50 and gave the company a “buy” rating in a report on Friday, May 9th. National Bankshares reaffirmed a “sector perform” rating on shares of First Majestic Silver in a research note on Wednesday, April 2nd. 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 note on Monday, March 10th. Finally, Wall Street Zen upgraded shares of First Majestic Silver from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, First Majestic Silver has a consensus rating of “Hold” and an average target price of $8.75.

First Majestic Silver Trading Up 1.0%

Shares of AG stock opened at $8.33 on Thursday. The stock has a 50 day simple moving average of $6.44 and a 200-day simple moving average of $6.11. First Majestic Silver has a 1-year low of $4.43 and a 1-year high of $8.66. The company has a market cap of $4.03 billion, a price-to-earnings ratio of -23.79 and a beta of 0.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 2.12.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data 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). First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. The firm had revenue of $241.12 million during the quarter, compared to analyst estimates of $358.65 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. The company’s quarterly revenue was up 41.6% on a year-over-year basis. On average, equities research analysts expect that First Majestic Silver will post 0.54 EPS for the current fiscal year.

First Majestic Silver Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were issued a $0.0045 dividend. This represents a dividend yield of 0.32%. The ex-dividend date was Friday, May 16th. First Majestic Silver’s payout ratio is currently -3.45%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in First Majestic Silver by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 565,982 shares of the mining company’s stock valued at $3,109,000 after purchasing an additional 18,219 shares during the period. Principal Securities Inc. increased its position in First Majestic Silver by 30.3% during the 4th quarter. Principal Securities Inc. now owns 21,500 shares of the mining company’s stock worth $118,000 after purchasing an additional 5,000 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of First Majestic Silver in the fourth quarter valued at approximately $2,442,000. Aigen Investment Management LP acquired a new position in First Majestic Silver in the 4th quarter valued at $161,000. Finally, RFG Advisory LLC purchased a new position in First Majestic Silver during the first quarter worth about $527,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

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.