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

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s share price shot up 4.4% on Wednesday . The stock traded as high as $5.03 and last traded at $5.00. 4,889,504 shares changed hands during mid-day 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

Several research firms recently commented on AG. Cormark upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, September 6th. HC Wainwright reaffirmed a “buy” rating and issued a $8.50 price target on shares of First Majestic Silver in a research note on Friday, September 6th. Finally, Scotiabank increased their price objective on shares of First Majestic Silver from $5.50 to $6.50 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $7.50.

First Majestic Silver Trading Up 7.5 %

The company has a current ratio of 3.05, a quick ratio of 2.44 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average of $5.72 and a two-hundred day moving average of $6.18. The firm has a market capitalization of $1.49 billion, a P/E ratio of -31.63 and a beta of 1.35.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Thursday, August 1st. The mining company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The company had revenue of $136.20 million during the quarter, compared to the consensus estimate of $129.74 million. First Majestic Silver had a negative net margin of 15.37% and a negative return on equity of 4.39%. First Majestic Silver’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) EPS. On average, analysts anticipate that First Majestic Silver Corp. will post -0.11 EPS for the current year.

First Majestic Silver Dividend Announcement

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

Institutional Trading of First Majestic Silver

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AG. Creekmur Asset Management LLC bought a new position in shares of First Majestic Silver in the 4th quarter worth about $43,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in First Majestic Silver in the first quarter worth approximately $48,000. B. Riley Wealth Advisors Inc. acquired a new position in First Majestic Silver in the first quarter valued at approximately $62,000. Capstone Investment Advisors LLC bought a new position in shares of First Majestic Silver during the 4th quarter worth approximately $69,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of First Majestic Silver during the 2nd quarter worth approximately $70,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

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.