First Majestic Silver (NYSE:AG) Rating Increased to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday morning, MarketBeat reports.

A number of other research firms have also recently weighed in on AG. Wall Street Zen raised shares of First Majestic Silver from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Zacks Research upgraded First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 19th. HC Wainwright raised their price objective on First Majestic Silver to $30.00 and gave the company a “buy” rating in a report on Friday, February 20th. Weiss Ratings restated a “hold (c-)” rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. Finally, Scotiabank upped their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, First Majestic Silver has a consensus rating of “Buy” and a consensus price target of $25.00.

First Majestic Silver Stock Up 4.5%

AG stock opened at $20.06 on Tuesday. The firm has a 50-day moving average price of $24.03 and a 200-day moving average price of $17.39. First Majestic Silver has a 12 month low of $5.18 and a 12 month high of $32.03. The company has a current ratio of 3.38, a quick ratio of 2.96 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $9.89 billion, a P/E ratio of 57.32 and a beta of 0.76.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. The company had revenue of $463.92 million for the quarter, compared to analyst estimates of $561.30 million. First Majestic Silver had a net margin of 13.12% and a return on equity of 7.41%. The firm’s revenue was up 169.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 EPS. As a group, equities research analysts anticipate that First Majestic Silver will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

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

Hedge Funds Weigh In On First Majestic Silver

A number of hedge funds have recently modified their holdings of AG. Lodestone Wealth Management LLC bought a new stake in shares of First Majestic Silver in the fourth quarter worth $25,000. EFG International AG acquired a new position in First Majestic Silver during the 4th quarter worth about $25,000. Spire Wealth Management acquired a new position in First Majestic Silver during the 4th quarter worth about $35,000. Bogart Wealth LLC bought a new stake in shares of First Majestic Silver in the 3rd quarter valued at about $28,000. Finally, Aventura Private Wealth LLC bought a new stake in shares of First Majestic Silver in the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

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.