Brokerages Set First Majestic Silver Corp. (NYSE:AG) Price Target at $9.63

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) have received an average rating of “Hold” from the five research firms that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $9.63.

AG has been the topic of several research reports. National Bankshares reaffirmed a “sector perform” rating on shares of First Majestic Silver in a report on Wednesday, April 2nd. HC Wainwright raised their price objective on First Majestic Silver from $11.50 to $12.75 and gave the stock a “buy” rating in a report on Thursday, July 10th. National Bank Financial raised First Majestic Silver to a “hold” rating in a report on Thursday, June 12th. Finally, Scotiabank raised their price target on First Majestic Silver from $6.00 to $6.50 and gave the stock a “sector perform” rating in a report on Wednesday, July 9th.

Institutional Investors Weigh In On First Majestic Silver

A number of hedge funds and other institutional investors have recently modified their holdings of AG. Charles Schwab Investment Management Inc. lifted its position in shares of First Majestic Silver by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 565,982 shares of the mining company’s stock valued at $3,109,000 after acquiring an additional 18,219 shares during the period. Raymond James Financial Inc. acquired a new position in shares of First Majestic Silver during the 4th quarter worth approximately $2,442,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of First Majestic Silver during the 4th quarter worth approximately $981,000. Swiss National Bank raised its position in shares of First Majestic Silver by 4.0% during the 4th quarter. Swiss National Bank now owns 595,700 shares of the mining company’s stock worth $3,272,000 after purchasing an additional 23,100 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of First Majestic Silver by 472.6% during the 4th quarter. Signaturefd LLC now owns 21,020 shares of the mining company’s stock worth $115,000 after purchasing an additional 17,349 shares during the last quarter. 27.16% of the stock is currently owned by institutional investors and hedge funds.

First Majestic Silver Stock Down 2.5%

First Majestic Silver stock opened at $8.27 on Wednesday. First Majestic Silver has a 1-year low of $4.43 and a 1-year high of $9.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.19 and a quick ratio of 2.74. The stock has a market cap of $4.03 billion, a PE ratio of -28.52 and a beta of 0.82. The stock’s fifty day moving average is $7.53 and its two-hundred day moving average is $6.53.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Wednesday, May 7th. The mining company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). First Majestic Silver had a negative net margin of 12.32% and a negative return on equity of 0.14%. The business had revenue of $241.12 million during the quarter, compared to analyst estimates of $358.65 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The firm’s quarterly revenue was up 41.6% on a year-over-year basis. On average, sell-side analysts expect that First Majestic Silver will post 0.54 EPS for the current fiscal year.

First Majestic Silver Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were issued a $0.0045 dividend. This represents a yield of 0.32%. The ex-dividend date of this dividend was Friday, May 16th. First Majestic Silver’s dividend payout ratio is presently -6.90%.

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.