HC Wainwright Increases First Majestic Silver (NYSE:AG) Price Target to $8.50

First Majestic Silver (NYSE:AG) (TSE:FR) had its target price lifted by HC Wainwright from $7.00 to $8.50 in a research note published on Friday morning, Benzinga reports. HC Wainwright currently has a buy rating on the mining company’s stock.

Separately, StockNews.com upgraded First Majestic Silver to a sell rating in a research report on Monday, February 26th.

First Majestic Silver Stock Down 2.7 %

Shares of AG opened at $6.55 on Friday. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -13.65 and a beta of 1.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.04 and a current ratio of 2.57. The business’s fifty day moving average price is $5.75 and its two-hundred day moving average price is $5.51. First Majestic Silver has a 52 week low of $4.17 and a 52 week high of $8.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Thursday, February 22nd. The mining company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. First Majestic Silver had a negative return on equity of 1.85% and a negative net margin of 23.55%. The firm had revenue of $136.95 million for the quarter. During the same quarter in the previous year, the business posted ($0.07) earnings per share. On average, analysts predict that First Majestic Silver will post -0.06 earnings per share for the current year.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.0048 per share. This represents a $0.02 annualized dividend and a yield of 0.29%. The ex-dividend date was Wednesday, March 13th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio (DPR) is presently -4.17%.

Institutional Trading of First Majestic Silver

Several hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised its stake in shares of First Majestic Silver by 59.7% in the 3rd quarter. CWM LLC now owns 5,433 shares of the mining company’s stock valued at $28,000 after purchasing an additional 2,030 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of First Majestic Silver by 5.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,806 shares of the mining company’s stock valued at $267,000 after purchasing an additional 2,852 shares during the period. Trexquant Investment LP raised its stake in shares of First Majestic Silver by 1.8% in the 4th quarter. Trexquant Investment LP now owns 178,151 shares of the mining company’s stock valued at $1,096,000 after purchasing an additional 3,069 shares during the period. Toronto Dominion Bank raised its stake in shares of First Majestic Silver by 5.8% in the 3rd quarter. Toronto Dominion Bank now owns 71,753 shares of the mining company’s stock valued at $368,000 after purchasing an additional 3,924 shares during the period. Finally, Sprott Inc. raised its stake in shares of First Majestic Silver by 0.5% in the 4th quarter. Sprott Inc. now owns 787,862 shares of the mining company’s stock valued at $4,838,000 after purchasing an additional 4,257 shares during the period. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Company Profile

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.