First Majestic Silver (NYSE:AG) Stock Price Up 7% – Here’s What Happened

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shot up 7% on Tuesday . The company traded as high as $5.94 and last traded at $5.94. 4,017,911 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 12,308,419 shares. The stock had previously closed at $5.55.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $11.00 target price on shares of First Majestic Silver in a research report on Friday.

First Majestic Silver Stock Performance

The business has a 50 day moving average of $6.06 and a 200-day moving average of $6.10. The company has a market capitalization of $1.75 billion, a P/E ratio of -21.52 and a beta of 1.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 3.03.

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

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.0048 dividend. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Friday, November 15th. This represents a $0.02 dividend on an annualized basis and a yield of 0.33%. First Majestic Silver’s dividend payout ratio is currently -3.70%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AG. Van ECK Associates Corp grew its holdings in First Majestic Silver by 2.7% during the 3rd quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company’s stock worth $173,478,000 after acquiring an additional 764,790 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of First Majestic Silver during the second quarter valued at about $3,904,000. Barclays PLC purchased a new stake in shares of First Majestic Silver during the third quarter valued at about $2,419,000. Quantbot Technologies LP purchased a new stake in First Majestic Silver in the third quarter valued at about $2,057,000. Finally, XTX Topco Ltd boosted its holdings in First Majestic Silver by 1,510.1% in the third quarter. XTX Topco Ltd now owns 271,748 shares of the mining company’s stock worth $1,630,000 after acquiring an additional 254,870 shares in the last quarter. Hedge funds and other institutional investors 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.