First Majestic Silver (NYSE:AG) Trading 8.7% Higher – Still a Buy?

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

Analysts Set New Price Targets

AG has been the topic of a number of research reports. HC Wainwright reiterated a “buy” rating and issued a $8.50 price objective on shares of First Majestic Silver in a report on Friday, October 18th. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, September 6th.

First Majestic Silver Stock Down 2.7 %

The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -21.44 and a beta of 1.25. The company has a quick ratio of 2.45, a current ratio of 3.03 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average is $6.26 and its two-hundred day moving average is $6.11.

First Majestic Silver (NYSE:AG) (TSE:FR) last released 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). The business 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%. Equities analysts anticipate that First Majestic Silver Corp. will post -0.17 EPS for the current year.

First Majestic Silver Increases Dividend

The business 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. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 annualized dividend and a yield of 0.33%. The ex-dividend date was Friday, November 15th. First Majestic Silver’s dividend payout ratio is presently -3.70%.

Institutional Investors Weigh In On First Majestic Silver

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in shares of First Majestic Silver by 77.3% in the 3rd quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock valued at $31,000 after purchasing an additional 2,253 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in First Majestic Silver in the 2nd quarter valued at about $70,000. Y Intercept Hong Kong Ltd acquired a new position in First Majestic Silver in the third quarter valued at about $70,000. Corundum Trust Company INC purchased a new position in First Majestic Silver during the third quarter worth about $72,000. Finally, Creative Planning acquired a new stake in shares of First Majestic Silver during the third quarter valued at about $72,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

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.