First Majestic Silver (NYSE:AG) Shares Gap Down to $6.18

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $6.18, but opened at $5.75. First Majestic Silver shares last traded at $5.47, with a volume of 2,865,046 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $8.50 price target on shares of First Majestic Silver in a report on Friday, July 19th. Scotiabank lifted their price target on shares of First Majestic Silver from $5.50 to $6.50 and gave the stock a “sector perform” rating in a report on Thursday, May 23rd.

First Majestic Silver Stock Down 14.7 %

The stock’s 50-day moving average price is $6.39 and its 200-day moving average price is $6.05. The company has a current ratio of 2.33, a quick ratio of 1.77 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -34.50 and a beta of 1.32.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Wednesday, May 8th. The mining company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). First Majestic Silver had a negative net margin of 9.18% and a negative return on equity of 3.28%. The firm had revenue of $106.01 million during the quarter. On average, sell-side analysts expect that First Majestic Silver Corp. will post -0.03 earnings per share for the current year.

First Majestic Silver Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 17th were paid a dividend of $0.004 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.02 annualized dividend and a yield of 0.30%. First Majestic Silver’s dividend payout ratio is currently -6.25%.

Institutional Investors Weigh In On First Majestic Silver

Several large investors have recently added to or reduced their stakes in AG. Van ECK Associates Corp grew its stake in First Majestic Silver by 5.1% in the first quarter. Van ECK Associates Corp now owns 31,876,555 shares of the mining company’s stock valued at $187,433,000 after acquiring an additional 1,534,710 shares during the period. Vanguard Group Inc. grew its stake in First Majestic Silver by 1.8% in the first quarter. Vanguard Group Inc. now owns 10,451,621 shares of the mining company’s stock valued at $61,456,000 after acquiring an additional 186,570 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in First Majestic Silver by 4.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,985,680 shares of the mining company’s stock valued at $43,071,000 after acquiring an additional 266,864 shares during the period. Tidal Investments LLC grew its stake in First Majestic Silver by 6,929.4% in the first quarter. Tidal Investments LLC now owns 5,174,889 shares of the mining company’s stock valued at $30,406,000 after acquiring an additional 5,101,271 shares during the period. Finally, Sprott Inc. grew its stake in First Majestic Silver by 0.5% in the fourth quarter. Sprott Inc. now owns 787,862 shares of the mining company’s stock valued at $4,838,000 after acquiring an additional 4,257 shares during the period. 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.