First Majestic Silver (NYSE:AG) Trading 7% Higher – Should You Buy?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) was up 7% on Tuesday . The company traded as high as $5.94 and last traded at $5.94. Approximately 4,017,911 shares changed hands during trading, a decline of 67% from the average daily volume of 12,308,419 shares. The stock had previously closed at $5.55.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of First Majestic Silver in a research note on Friday.

First Majestic Silver Stock Performance

The company has a market cap of $1.75 billion, a price-to-earnings ratio of -21.52 and a beta of 1.25. The stock’s fifty day simple moving average is $6.06 and its 200 day simple moving average is $6.10. 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 (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, November 7th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.12). First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. The firm had revenue of $146.09 million for the quarter. As a group, analysts anticipate that First Majestic Silver Corp. will post -0.17 earnings per share for the current year.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.0048 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Friday, November 15th. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s payout ratio is currently -3.70%.

Hedge Funds Weigh In On First Majestic Silver

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp lifted its stake in 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 buying an additional 764,790 shares during the last quarter. Tidal Investments LLC raised its position in First Majestic Silver by 1.8% in the 3rd quarter. Tidal Investments LLC now owns 5,780,689 shares of the mining company’s stock valued at $34,684,000 after purchasing an additional 99,640 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in First Majestic Silver by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,158,908 shares of the mining company’s stock worth $18,701,000 after purchasing an additional 103,232 shares during the period. National Bank of Canada FI grew its position in First Majestic Silver by 18.0% during the 3rd quarter. National Bank of Canada FI now owns 683,627 shares of the mining company’s stock worth $4,102,000 after purchasing an additional 104,092 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in First Majestic Silver in the second quarter valued at $3,904,000. Hedge funds and other 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.