First Majestic Silver Corp. (NYSE:AG) Receives Average Rating of “Moderate Buy” from Analysts

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) have earned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $23.1667.

Several analysts recently weighed in on AG shares. Scotiabank lifted their price target on First Majestic Silver from $12.50 to $23.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. HC Wainwright boosted their target price on shares of First Majestic Silver from $17.50 to $24.50 and gave the company a “buy” rating in a research report on Friday, January 16th. National Bankshares set a $22.00 price target on shares of First Majestic Silver and gave the company an “outperform” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Majestic Silver in a research note on Wednesday, January 21st. Finally, Cormark upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 6th.

First Majestic Silver Price Performance

Shares of AG opened at $20.82 on Friday. The company’s 50-day moving average is $18.10 and its 200-day moving average is $13.29. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.38 and a quick ratio of 2.96. The firm has a market capitalization of $10.23 billion, a PE ratio of 148.71 and a beta of 0.77. First Majestic Silver has a fifty-two week low of $5.09 and a fifty-two week high of $27.90.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Wednesday, November 5th. The mining company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.04). The company had revenue of $285.10 million during the quarter, compared to the consensus estimate of $429.78 million. First Majestic Silver had a net margin of 7.07% and a return on equity of 3.14%. The firm’s revenue was up 95.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.09) earnings per share. Equities analysts forecast that First Majestic Silver will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a dividend of $0.0052 per share. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Friday, November 14th. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%. First Majestic Silver’s dividend payout ratio is 14.29%.

Institutional Trading of First Majestic Silver

Several large investors have recently modified their holdings of the stock. Moors & Cabot Inc. lifted its position in First Majestic Silver by 2.8% during the third quarter. Moors & Cabot Inc. now owns 35,295 shares of the mining company’s stock worth $434,000 after purchasing an additional 945 shares during the period. AdvisorNet Financial Inc lifted its holdings in shares of First Majestic Silver by 33.2% during the 3rd 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 period. Signaturefd LLC boosted its position in shares of First Majestic Silver by 4.7% during the 3rd quarter. Signaturefd LLC now owns 22,275 shares of the mining company’s stock worth $274,000 after acquiring an additional 1,008 shares in the last quarter. Bogart Wealth LLC increased its stake in First Majestic Silver by 52.2% in the fourth quarter. Bogart Wealth LLC now owns 3,500 shares of the mining company’s stock valued at $58,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Choreo LLC raised its position in First Majestic Silver by 1.7% during the fourth quarter. Choreo LLC now owns 72,628 shares of the mining company’s stock valued at $1,230,000 after purchasing an additional 1,216 shares in the last quarter. 27.16% of the stock is owned by institutional investors and hedge funds.

About First Majestic Silver

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.