First Majestic Silver (NYSE:AG) Upgraded at StockNews.com

StockNews.com upgraded shares of First Majestic Silver (NYSE:AG) (TSE:FR) from a sell rating to a hold rating in a research note published on Friday.

Several other research firms also recently issued reports on AG. Scotiabank dropped their price target on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 15th. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of First Majestic Silver in a report on Friday.

First Majestic Silver Price Performance

First Majestic Silver stock opened at $5.55 on Friday. The firm has a market capitalization of $1.73 billion, a P/E ratio of -20.54 and a beta of 1.24. The business has a 50-day moving average of $5.68 and a 200-day moving average of $6.01. The company has a current ratio of 3.03, a quick ratio of 2.45 and a debt-to-equity ratio of 0.16. First Majestic Silver has a 1 year low of $4.28 and a 1 year high of $8.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, February 20th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. The firm had revenue of $172.34 million during the quarter, compared to analyst estimates of $227.77 million. On average, equities analysts anticipate that First Majestic Silver will post -0.18 EPS for the current year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.0057 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.41%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date is Friday, February 28th. First Majestic Silver’s dividend payout ratio is presently -7.41%.

Institutional Investors Weigh In On First Majestic Silver

A number of large investors have recently added to or reduced their stakes in AG. Tidal Investments LLC lifted its stake in shares of First Majestic Silver by 135.2% during the 4th quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company’s stock worth $74,647,000 after buying an additional 7,816,177 shares during the last quarter. Renaissance Technologies LLC raised its holdings in First Majestic Silver by 897.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,759,181 shares of the mining company’s stock valued at $20,638,000 after acquiring an additional 3,382,443 shares during the period. Two Sigma Investments LP lifted its position in First Majestic Silver by 46.8% during the fourth quarter. Two Sigma Investments LP now owns 4,455,923 shares of the mining company’s stock worth $24,463,000 after acquiring an additional 1,420,937 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of First Majestic Silver by 115.3% during the fourth quarter. Cubist Systematic Strategies LLC now owns 1,520,359 shares of the mining company’s stock worth $8,347,000 after acquiring an additional 814,153 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of First Majestic Silver by 2.7% in the third quarter. Van ECK Associates Corp now owns 28,912,989 shares of the mining company’s stock valued at $173,478,000 after purchasing an additional 764,790 shares during the last quarter. 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.