Shares of First Majestic Silver Corp. (NYSE:AG – Get Rating) (TSE:FR) traded down 5.9% during trading on Friday after HC Wainwright lowered their price target on the stock from $11.00 to $10.00. The company traded as low as $6.53 and last traded at $6.56. 2,118,651 shares were traded during mid-day trading, a decline of 70% from the average session volume of 7,042,407 shares. The stock had previously closed at $6.97.
A number of other analysts have also recently commented on the stock. BMO Capital Markets lowered their target price on shares of First Majestic Silver from C$10.50 to C$9.00 in a research note on Friday, January 20th. TD Securities decreased their price objective on shares of First Majestic Silver from C$11.00 to C$9.00 in a research note on Tuesday, March 21st. Finally, National Bank Financial decreased their price objective on shares of First Majestic Silver from C$14.50 to C$11.00 in a research note on Tuesday, February 14th.
Hedge Funds Weigh In On First Majestic Silver
Several large investors have recently made changes to their positions in AG. Northwestern Mutual Wealth Management Co. lifted its stake in shares of First Majestic Silver by 19,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,000 shares of the mining company’s stock valued at $33,000 after purchasing an additional 3,980 shares during the period. Money Concepts Capital Corp acquired a new position in shares of First Majestic Silver in the 4th quarter valued at $33,000. Coppell Advisory Solutions Corp. acquired a new position in shares of First Majestic Silver in the 4th quarter valued at $42,000. Captrust Financial Advisors increased its holdings in First Majestic Silver by 589.5% in the 2nd quarter. Captrust Financial Advisors now owns 8,515 shares of the mining company’s stock worth $61,000 after acquiring an additional 7,280 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in First Majestic Silver by 5,383.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,825 shares of the mining company’s stock worth $63,000 after acquiring an additional 4,737 shares in the last quarter. 30.40% of the stock is currently owned by institutional investors and hedge funds.
First Majestic Silver Stock Performance
The company has a market cap of $1.80 billion, a PE ratio of -16.21 and a beta of 1.06. The firm’s fifty day moving average is $6.89 and its 200 day moving average is $7.93. The company has a current ratio of 2.21, a quick ratio of 1.83 and a debt-to-equity ratio of 0.17.
First Majestic Silver (NYSE:AG – Get Rating) (TSE:FR) last issued its quarterly earnings results on Thursday, February 23rd. The mining company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $148.20 million during the quarter, compared to analysts’ expectations of $197.59 million. First Majestic Silver had a negative return on equity of 3.73% and a negative net margin of 18.31%. During the same period in the previous year, the firm posted $0.02 EPS. As a group, research analysts predict that First Majestic Silver Corp. will post 0.13 EPS for the current fiscal year.
First Majestic Silver Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Thursday, May 18th will be issued a $0.006 dividend. This represents a $0.02 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Wednesday, May 17th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s payout ratio is presently -4.65%.
First Majestic Silver Company Profile
First Majestic Silver Corp. engages in the production, development, exploration and acquisition of mineral properties. It owns and operates producing mines in México including the La Encantada Silver Mine, La Parrilla Silver Mine, San Martin Silver Mine, La Guitarra Silver Mine, Del Toro Silver Mine, Santa Elena Silver & Gold Mine, and San Dimas Silver & Gold Mine.