First Majestic Silver (NYSE:AG) Shares Gap Down – What’s Next?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shares gapped down prior to trading on Friday . The stock had previously closed at $5.68, but opened at $5.56. First Majestic Silver shares last traded at $5.58, with a volume of 1,257,374 shares traded.

Analyst Ratings Changes

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

First Majestic Silver Stock Down 3.2 %

The company has a quick ratio of 2.45, a current ratio of 3.03 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -20.37 and a beta of 1.25. The business’s 50-day moving average is $6.51 and its 200-day moving average is $6.13.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly 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). First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. The firm had revenue of $146.09 million for the quarter. As a group, equities analysts predict that First Majestic Silver Corp. will post -0.17 earnings per share for the current year.

First Majestic Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.0048 per share. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.02 annualized dividend and a yield of 0.35%. First Majestic Silver’s dividend payout ratio (DPR) is -3.70%.

Hedge Funds Weigh In On First Majestic Silver

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AG. Van ECK Associates Corp grew its holdings in shares of First Majestic Silver by 2.7% during the third quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company’s stock worth $173,478,000 after buying an additional 764,790 shares during the last quarter. Tidal Investments LLC raised its stake in shares of First Majestic Silver by 1.8% during the 3rd quarter. Tidal Investments LLC now owns 5,780,689 shares of the mining company’s stock worth $34,684,000 after buying an additional 99,640 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of First Majestic Silver by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,158,908 shares of the mining company’s stock worth $18,701,000 after purchasing an additional 103,232 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of First Majestic Silver by 0.8% during the second quarter. TD Asset Management Inc now owns 774,530 shares of the mining company’s stock worth $4,585,000 after buying an additional 5,868 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in First Majestic Silver by 18.0% during the third quarter. National Bank of Canada FI now owns 683,627 shares of the mining company’s stock worth $4,102,000 after buying an additional 104,092 shares during the period. 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.