First Majestic Silver Corp. (NYSE:AG) Raises Dividend to $0.00 Per Share

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) announced a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors of record on Friday, November 15th will be paid a dividend of 0.0048 per share by the mining company on Friday, November 29th. This represents a $0.02 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Friday, November 15th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.0046.

First Majestic Silver has a payout ratio of 8.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Majestic Silver to earn $0.24 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 8.3%.

First Majestic Silver Price Performance

NYSE:AG opened at $6.30 on Wednesday. The business’s 50-day moving average is $6.43 and its two-hundred day moving average is $6.36. First Majestic Silver has a 12 month low of $4.17 and a 12 month high of $8.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.03 and a quick ratio of 2.45.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, November 7th. The mining company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.12). The company had revenue of $146.09 million for the quarter. First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. Equities research analysts anticipate that First Majestic Silver will post -0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AG shares. Cormark raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, September 6th. HC Wainwright reaffirmed a “buy” rating and set a $8.50 price target on shares of First Majestic Silver in a research note on Friday, October 18th.

About First Majestic Silver

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.