First Majestic Silver (NYSE:AG) Trading Up 6.7% – Here’s Why

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) was up 6.7% during mid-day trading on Tuesday . The stock traded as high as $6.34 and last traded at $6.34. Approximately 4,950,000 shares traded hands during trading, a decline of 41% from the average daily volume of 8,399,243 shares. The stock had previously closed at $5.94.

Wall Street Analyst Weigh In

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

First Majestic Silver Stock Up 6.2 %

The company has a market capitalization of $1.90 billion, a PE ratio of -22.00 and a beta of 1.25. The firm has a fifty day simple moving average of $6.66 and a 200-day simple moving average of $6.27. 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 issued its earnings results on Thursday, November 7th. The mining company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $146.09 million for the quarter. Equities research analysts anticipate that First Majestic Silver Corp. will post -0.17 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $0.0048 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.30%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Friday, November 15th. First Majestic Silver’s payout ratio is presently -3.70%.

Institutional Investors Weigh In On First Majestic Silver

Hedge funds have recently added to or reduced their stakes in the stock. Synovus Financial Corp acquired a new stake in shares of First Majestic Silver during the third quarter worth $452,000. Tidal Investments LLC lifted its position 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 valued at $34,684,000 after acquiring an additional 99,640 shares during the period. Virtu Financial LLC boosted its position in shares of First Majestic Silver by 95.9% during the 3rd quarter. Virtu Financial LLC now owns 136,356 shares of the mining company’s stock worth $818,000 after acquiring an additional 66,750 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of First Majestic Silver by 6.7% during the 3rd quarter. Toronto Dominion Bank now owns 29,404 shares of the mining company’s stock worth $176,000 after buying an additional 1,855 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of First Majestic Silver by 9.8% during the third quarter. Geode Capital Management LLC now owns 136,901 shares of the mining company’s stock worth $825,000 after buying an additional 12,171 shares during the last quarter. Institutional investors 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.