First Majestic Silver Corp. (NYSE:AG) to Issue Dividend Increase – $0.01 Per Share

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Friday, February 28th will be paid a dividend of 0.0057 per share by the mining company on Friday, March 14th. This represents a $0.02 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.0048.

First Majestic Silver has raised its dividend payment by an average of 5.1% per year over the last three years. First Majestic Silver has a dividend payout ratio of 4.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Majestic Silver to earn $0.54 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 3.7%.

First Majestic Silver Price Performance

NYSE AG traded down $0.22 on Friday, hitting $5.55. 25,372,832 shares of the company were exchanged, compared to its average volume of 18,162,666. The firm has a 50 day moving average of $5.68 and a two-hundred day moving average of $6.01. The company has a market cap of $1.73 billion, a P/E ratio of -20.54 and a beta of 1.24. 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 issued 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). The company had revenue of $172.34 million for the quarter, compared to analyst estimates of $227.77 million. First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. On average, equities analysts predict that First Majestic Silver will post -0.18 EPS for the current year.

Analyst Ratings Changes

AG has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and set a $11.00 price objective on shares of First Majestic Silver in a report on Friday. Scotiabank dropped their price objective on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating for the company in a report on Wednesday, January 15th.

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.