First Majestic Silver (NYSE:AG) Trading Up 4.4%

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shot up 4.4% on Wednesday . The stock traded as high as $5.03 and last traded at $5.00. 4,889,504 shares were traded during trading, a decline of 35% from the average session volume of 7,564,194 shares. The stock had previously closed at $4.79.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AG. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, September 6th. Scotiabank boosted their price objective on First Majestic Silver from $5.50 to $6.50 and gave the company a “sector perform” rating in a report on Thursday, May 23rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $8.50 target price on shares of First Majestic Silver in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.50.

First Majestic Silver Trading Up 7.5 %

The company has a quick ratio of 2.44, a current ratio of 3.05 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average price of $5.72 and a 200 day moving average price of $6.18. The stock has a market capitalization of $1.49 billion, a PE ratio of -31.63 and a beta of 1.35.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, August 1st. The mining company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The company had revenue of $136.20 million for the quarter, compared to the consensus estimate of $129.74 million. First Majestic Silver had a negative return on equity of 4.39% and a negative net margin of 15.37%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.02) EPS. Equities analysts expect that First Majestic Silver Corp. will post -0.11 EPS for the current fiscal year.

First Majestic Silver Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a $0.0046 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Friday, August 16th. First Majestic Silver’s payout ratio is -6.25%.

Institutional Trading of First Majestic Silver

Hedge funds have recently bought and sold shares of the business. Creekmur Asset Management LLC purchased a new stake in First Majestic Silver during the fourth quarter valued at about $43,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in First Majestic Silver during the 1st quarter valued at $48,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of First Majestic Silver during the first quarter worth $62,000. Capstone Investment Advisors LLC bought a new position in shares of First Majestic Silver in the fourth quarter worth $69,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of First Majestic Silver in the second quarter valued at $70,000. 27.16% of the stock is currently owned by institutional investors.

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.