First Majestic Silver Corp. (NYSE:AG) Receives $25.00 Average Price Target from Brokerages

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $25.00.

A number of brokerages recently weighed in on AG. Wall Street Zen downgraded shares of First Majestic Silver from a “strong-buy” rating to a “buy” rating in a research note on Saturday. BMO Capital Markets raised shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 24th. Scotiabank raised their target price on shares of First Majestic Silver from $12.50 to $23.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Zacks Research downgraded shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Majestic Silver in a research note on Wednesday, January 21st.

First Majestic Silver Trading Up 0.0%

Shares of AG stock opened at $21.49 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.41 and a current ratio of 2.60. First Majestic Silver has a 52-week low of $5.49 and a 52-week high of $32.03. The company has a market capitalization of $10.60 billion, a PE ratio of 61.41 and a beta of 0.97. The business’s fifty day moving average is $23.43 and its 200 day moving average is $18.67.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. First Majestic Silver had a return on equity of 7.25% and a net margin of 13.12%.The company had revenue of $463.92 million for the quarter, compared to the consensus estimate of $561.30 million. During the same quarter last year, the business posted $0.03 earnings per share. The firm’s revenue was up 169.2% compared to the same quarter last year. On average, equities research analysts anticipate that First Majestic Silver will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were given a dividend of $0.0083 per share. The ex-dividend date was Friday, February 27th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.03 dividend on an annualized basis and a yield of 0.2%. First Majestic Silver’s dividend payout ratio (DPR) is 8.57%.

Institutional Investors Weigh In On First Majestic Silver

A number of large investors have recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC purchased a new position in shares of First Majestic Silver during the fourth quarter worth approximately $25,000. EFG International AG purchased a new position in shares of First Majestic Silver in the fourth quarter worth about $25,000. Bogart Wealth LLC purchased a new position in shares of First Majestic Silver in the third quarter worth about $28,000. Spire Wealth Management purchased a new position in shares of First Majestic Silver in the fourth quarter worth about $35,000. Finally, Sound Income Strategies LLC increased its holdings in shares of First Majestic Silver by 29,900.0% in the third quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock worth $37,000 after buying an additional 2,990 shares during the period. Hedge funds and other institutional investors own 27.16% of the company’s stock.

First Majestic Silver Company Profile

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.