First Majestic Silver’s (AG) Hold (C-) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their hold (c-) rating on shares of First Majestic Silver (NYSE:AG) (TSE:FR) in a report published on Friday,Weiss Ratings reports.

AG has been the subject of several other research reports. HC Wainwright set a $17.50 price objective on First Majestic Silver in a research report on Friday, October 10th. National Bankshares set a $22.00 price objective on First Majestic Silver and gave the company an “outperform” rating in a research report on Monday, October 6th. National Bank Financial upgraded First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research report on Sunday, October 5th. Scotiabank lifted their price objective on First Majestic Silver from $9.00 to $12.50 and gave the company a “sector perform” rating in a research report on Thursday. Finally, Wall Street Zen upgraded First Majestic Silver from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.33.

First Majestic Silver Price Performance

Shares of AG stock opened at $12.87 on Friday. The stock’s fifty day simple moving average is $11.21 and its 200 day simple moving average is $8.76. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.27 and a quick ratio of 2.84. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of -1,285.21 and a beta of 0.76. First Majestic Silver has a one year low of $5.09 and a one year high of $15.69.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, August 14th. The mining company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $264.20 million during the quarter, compared to analyst estimates of $387.25 million. First Majestic Silver had a net margin of 1.78% and a return on equity of 1.72%. First Majestic Silver’s quarterly revenue was up 94.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.07) EPS. On average, analysts expect that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.0048 per share. The ex-dividend date was Friday, August 29th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.1%. First Majestic Silver’s payout ratio is presently -200.00%.

Institutional Investors Weigh In On First Majestic Silver

A number of institutional investors and hedge funds have recently made changes to their positions in AG. AlphaQuest LLC bought a new stake in shares of First Majestic Silver during the first quarter worth $29,000. Sound Income Strategies LLC raised its position in shares of First Majestic Silver by 29,900.0% during the third quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock worth $37,000 after acquiring an additional 2,990 shares during the last quarter. CWM LLC raised its position in shares of First Majestic Silver by 57.2% during the second quarter. CWM LLC now owns 5,114 shares of the mining company’s stock worth $42,000 after acquiring an additional 1,860 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of First Majestic Silver during the first quarter worth $46,000. Finally, AdvisorNet Financial Inc raised its position in shares of First Majestic Silver by 33.2% during the third quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company’s stock worth $48,000 after acquiring an additional 971 shares during the last quarter. Institutional investors 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.