First Majestic Silver (NYSE:AG) Trading 4.8% Higher – Time to Buy?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s stock price rose 4.8% during mid-day trading on Wednesday . The stock traded as high as $5.59 and last traded at $5.60. Approximately 1,667,870 shares traded hands during trading, a decline of 89% from the average daily volume of 15,490,205 shares. The stock had previously closed at $5.34.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AG. Scotiabank dropped 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 note on Wednesday, January 15th. HC Wainwright reissued a “buy” rating and issued a $11.00 target price on shares of First Majestic Silver in a report on Friday, January 10th.

First Majestic Silver Trading Up 1.6 %

The company’s fifty day moving average price is $5.87 and its two-hundred day moving average price is $6.05. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -20.17 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.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Thursday, November 7th. The mining company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.12). The company 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%. Research analysts expect that First Majestic Silver Corp. will post -0.16 earnings per share for the current year.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.0048 dividend. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 dividend on an annualized basis and a yield of 0.35%. First Majestic Silver’s dividend payout ratio (DPR) is presently -7.41%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp increased its position in shares of First Majestic Silver by 2.7% in the 3rd 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 in the last quarter. Tidal Investments LLC increased its holdings in shares of First Majestic Silver by 1.8% in the third quarter. Tidal Investments LLC now owns 5,780,689 shares of the mining company’s stock worth $34,684,000 after acquiring an additional 99,640 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of First Majestic Silver by 3.4% during the second 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 lifted its holdings in shares of 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 valued at $4,102,000 after purchasing an additional 104,092 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of First Majestic Silver during the 2nd quarter valued at about $3,904,000. 27.16% of the stock is currently owned by institutional investors.

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.