First Majestic Silver (NYSE:AG) Shares Gap Down – Time to Sell?

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) gapped down before the market opened on Thursday . The stock had previously closed at $6.68, but opened at $6.40. First Majestic Silver shares last traded at $6.41, with a volume of 1,678,042 shares traded.

Analyst Ratings Changes

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

First Majestic Silver Trading Down 2.7 %

The company has a 50 day simple moving average of $6.66 and a 200 day simple moving average of $6.23. The company has a current ratio of 3.03, a quick ratio of 2.45 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.82 billion, a PE ratio of -22.33 and a beta of 1.25.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Thursday, November 7th. The mining company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). The firm had revenue of $146.09 million for the quarter. First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. Analysts predict that First Majestic Silver Corp. will post -0.17 earnings per share for the current fiscal 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 issued a $0.0048 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.02 dividend on an annualized basis and a yield of 0.32%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio (DPR) is -7.41%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its stake in shares of First Majestic Silver by 2.7% during the 3rd 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 position in First Majestic Silver by 1.8% during the third quarter. Tidal Investments LLC now owns 5,780,689 shares of the mining company’s stock worth $34,684,000 after acquiring an additional 99,640 shares during the last quarter. Dimensional Fund Advisors LP raised its position in First Majestic Silver by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,158,908 shares of the mining company’s stock worth $18,701,000 after acquiring an additional 103,232 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of First Majestic Silver by 0.8% in the second quarter. TD Asset Management Inc now owns 774,530 shares of the mining company’s stock valued at $4,585,000 after purchasing an additional 5,868 shares in the last quarter. Finally, National Bank of Canada FI grew its position in shares of First Majestic Silver by 18.0% in the third quarter. National Bank of Canada FI now owns 683,627 shares of the mining company’s stock valued at $4,102,000 after purchasing an additional 104,092 shares during the last quarter. 27.16% of the stock is owned by hedge funds and other institutional investors.

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.