First Majestic Silver (NYSE:AG) Shares Gap Up – Should You Buy?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) gapped up before the market opened on Tuesday . The stock had previously closed at $7.09, but opened at $7.32. First Majestic Silver shares last traded at $7.36, with a volume of 2,748,634 shares.

Wall Street Analyst Weigh In

A number of research firms have commented on AG. TD Securities raised First Majestic Silver to a “hold” rating in a research note on Monday, March 10th. StockNews.com raised First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Scotiabank lowered their price objective on shares of First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 15th. Finally, HC Wainwright reiterated a “buy” rating and set a $11.00 target price on shares of First Majestic Silver in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, First Majestic Silver presently has an average rating of “Hold” and an average price target of $8.50.

First Majestic Silver Trading Up 0.3 %

The firm has a market cap of $3.51 billion, a P/E ratio of -20.72 and a beta of 1.16. The business’s 50-day moving average is $5.80 and its two-hundred day moving average is $6.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 2.12.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, February 20th. The mining company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The business had revenue of $172.34 million during the quarter, compared to analyst estimates of $227.77 million. First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. As a group, analysts predict that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.0057 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.31%. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Friday, February 28th. First Majestic Silver’s dividend payout ratio is presently -5.71%.

Hedge Funds Weigh In On First Majestic Silver

Hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP lifted its holdings in First Majestic Silver by 805.4% in the fourth quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock valued at $29,000 after buying an additional 4,591 shares during the period. Generali Investments CEE investicni spolecnost a.s. bought a new stake in First Majestic Silver during the fourth quarter worth $55,000. Bank of Nova Scotia bought a new stake in shares of First Majestic Silver during the 4th quarter worth $57,000. Captrust Financial Advisors purchased a new position in First Majestic Silver in the fourth quarter valued at about $58,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in First Majestic Silver in the third quarter valued at approximately $70,000. 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.