First Majestic Silver (NYSE:AG) Trading 8.7% Higher – Time to Buy?

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) traded up 8.7% on Thursday . The stock traded as high as $5.97 and last traded at $5.97. 7,937,051 shares were traded during trading, a decline of 6% from the average session volume of 8,488,041 shares. The stock had previously closed at $5.49.

Wall Street Analyst Weigh In

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

First Majestic Silver Stock Performance

The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -21.89 and a beta of 1.25. The firm has a fifty day simple moving average of $6.34 and a 200 day simple moving average of $6.11. 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 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). The company had revenue of $146.09 million during the quarter. First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. On average, analysts anticipate that First Majestic Silver Corp. will post -0.17 earnings per share 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. Stockholders of record on Friday, November 15th were given a $0.0048 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio (DPR) is -3.70%.

Institutional Investors Weigh In On First Majestic Silver

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. raised its position in shares of First Majestic Silver by 11.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 203,260 shares of the mining company’s stock valued at $1,203,000 after buying an additional 20,270 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in First Majestic Silver by 6.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,320 shares of the mining company’s stock valued at $493,000 after acquiring an additional 4,797 shares in the last quarter. International Assets Investment Management LLC raised its holdings in First Majestic Silver by 39.5% in the 2nd quarter. International Assets Investment Management LLC now owns 13,995 shares of the mining company’s stock valued at $83,000 after acquiring an additional 3,960 shares during the last quarter. Commonwealth Equity Services LLC purchased a new position in First Majestic Silver in the 2nd quarter worth approximately $325,000. Finally, CIBC Asset Management Inc grew its position in shares of First Majestic Silver by 7.7% in the second quarter. CIBC Asset Management Inc now owns 356,769 shares of the mining company’s stock valued at $2,111,000 after purchasing an additional 25,463 shares in the last quarter. Institutional investors and hedge funds 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.