First Majestic Silver (TSE:AG) Shares Down 1.3% – Here’s Why

Shares of First Majestic Silver Corp. (TSE:AG) fell 1.3% during mid-day trading on Wednesday . The stock traded as low as C$21.83 and last traded at C$21.91. 2,621,651 shares changed hands during trading, an increase of 56% from the average session volume of 1,683,745 shares. The stock had previously closed at C$22.19.

Analyst Ratings Changes

Several research firms recently weighed in on AG. Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 6th. TD Securities upgraded shares of First Majestic Silver from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$14.00 to C$22.00 in a report on Wednesday, October 8th. National Bankshares raised shares of First Majestic Silver from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from C$20.00 to C$22.00 in a research report on Monday, October 6th. National Bank Financial upgraded shares of First Majestic Silver from a “hold” rating to a “strong-buy” rating in a report on Sunday, October 5th. Finally, ATB Capital raised shares of First Majestic Silver from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$47.00 to C$52.00 in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$27.80.

First Majestic Silver Trading Down 1.3%

The stock’s 50-day moving average is C$17.95 and its 200-day moving average is C$13.89. The stock has a market cap of C$10.74 billion, a price-to-earnings ratio of 156.50 and a beta of 1.61.

First Majestic Silver (TSE:AG) last released its quarterly earnings data on Wednesday, November 5th. The company reported C$0.06 EPS for the quarter. The company had revenue of C$396.93 million for the quarter. First Majestic Silver had a negative return on equity of 5.74% and a negative net margin of 14.81%. On average, equities analysts predict that First Majestic Silver Corp. will post 0.4623323 earnings per share for the current fiscal year.

First Majestic Silver Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 28th were paid a $0.0052 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Friday, November 14th. First Majestic Silver’s dividend payout ratio (DPR) is 14.14%.

About First Majestic Silver

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.