First Majestic Silver (NYSE:AG) Shares Gap Down – Here’s What Happened

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shares gapped down before the market opened on Monday . The stock had previously closed at $6.31, but opened at $6.10. First Majestic Silver shares last traded at $6.13, with a volume of 1,071,348 shares.

Analyst Upgrades and Downgrades

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

First Majestic Silver Trading Up 1.0 %

The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 3.03. The business has a 50 day moving average price of $6.66 and a 200-day moving average price of $6.31.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results 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). The firm had revenue of $146.09 million during the quarter. First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. As a group, equities analysts expect that First Majestic Silver Corp. will post -0.17 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be 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 0.31%. The ex-dividend date of this dividend is Friday, November 15th. First Majestic Silver’s dividend payout ratio is currently -7.41%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AG. Blue Trust Inc. boosted its stake in shares of First Majestic Silver by 77.3% in the third quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock valued at $31,000 after buying an additional 2,253 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in shares of First Majestic Silver during the 1st quarter valued at $62,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of First Majestic Silver during the 3rd quarter worth $70,000. Dark Forest Capital Management LP acquired a new position in First Majestic Silver in the second quarter valued at about $70,000. Finally, Creative Planning acquired a new stake in First Majestic Silver during the third quarter worth about $72,000. 27.16% of the stock is owned by institutional investors and hedge funds.

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.