First Majestic Silver Corp. (NYSE:AG) to Issue Dividend Increase – $0.00 Per Share

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) announced a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.0048 per share by the mining company on Friday, November 29th. This represents a $0.02 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Friday, November 15th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.0046.

First Majestic Silver has a payout ratio of 8.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Majestic Silver to earn $0.21 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 9.5%.

First Majestic Silver Stock Performance

Shares of AG traded down $0.29 during midday trading on Friday, reaching $6.47. 7,834,035 shares of the stock were exchanged, compared to its average volume of 8,272,172. The business’s 50-day moving average price is $6.40 and its 200 day moving average price is $6.37. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.05 and a quick ratio of 2.44. First Majestic Silver has a twelve month low of $4.17 and a twelve month high of $8.44. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -24.00 and a beta of 1.31.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced 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 4.39% and a negative net margin of 15.37%. The firm had revenue of $146.09 million for the quarter. On average, sell-side analysts expect that First Majestic Silver will post -0.13 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. HC Wainwright reissued 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 First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, September 6th.

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.