First Majestic Silver Corp. (NYSE:AG – Get Rating) (TSE:FR) shares were down 3.7% during mid-day trading on Friday after HC Wainwright lowered their price target on the stock from $12.50 to $12.00. HC Wainwright currently has a buy rating on the stock. First Majestic Silver traded as low as $7.79 and last traded at $7.88. Approximately 115,808 shares were traded during trading, a decline of 98% from the average daily volume of 6,070,392 shares. The stock had previously closed at $8.18.
Other analysts also recently issued research reports about the company. Citigroup set a $8.00 price objective on First Majestic Silver in a research note on Thursday, October 20th. National Bank Financial increased their price objective on shares of First Majestic Silver from C$13.00 to C$14.50 in a research report on Friday, January 13th. Finally, TD Securities lifted their price objective on shares of First Majestic Silver from C$11.00 to C$12.00 in a research note on Thursday, November 10th.
Institutional Investors Weigh In On First Majestic Silver
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AG. Steward Partners Investment Advisory LLC increased its holdings in First Majestic Silver by 203.8% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 3,950 shares of the mining company’s stock worth $28,000 after purchasing an additional 2,650 shares during the period. BerganKDV Wealth Management LLC increased its stake in shares of First Majestic Silver by 94.4% during the third quarter. BerganKDV Wealth Management LLC now owns 4,000 shares of the mining company’s stock valued at $30,000 after buying an additional 1,942 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in shares of First Majestic Silver by 450.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 5,500 shares of the mining company’s stock valued at $39,000 after acquiring an additional 4,500 shares in the last quarter. Captrust Financial Advisors lifted its stake in First Majestic Silver by 589.5% in the second 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 during the period. Finally, JPMorgan Chase & Co. grew its holdings in First Majestic Silver by 5,383.0% during 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. Institutional investors own 30.40% of the company’s stock.
First Majestic Silver Stock Down 3.5 %
The company has a current ratio of 1.88, a quick ratio of 1.51 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.15 billion, a PE ratio of -20.97 and a beta of 0.98. The business’s 50-day simple moving average is $8.90 and its 200 day simple moving average is $8.16.
First Majestic Silver (NYSE:AG – Get Rating) (TSE:FR) last posted its earnings results on Wednesday, November 9th. The mining company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). First Majestic Silver had a negative return on equity of 2.18% and a negative net margin of 14.90%. The company had revenue of $159.75 million for the quarter. As a group, equities research analysts expect that First Majestic Silver Corp. will post -0.2 earnings per share for the current year.
First Majestic Silver Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, December 2nd. Shareholders of record on Tuesday, November 22nd were issued a $0.0061 dividend. This represents a $0.02 annualized dividend and a yield of 0.31%. The ex-dividend date was Monday, November 21st. First Majestic Silver’s dividend payout ratio is presently -5.13%.
About First Majestic Silver
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. It holds 100% interests in the San Dimas Silver/Gold Mine covering an area of 71,868 hectares located in Durango and Sinaloa states; the Santa Elena Silver/Gold Mine covering an area of 102,244 hectares located in Sonora; Jerritt Canyon gold mine that covers an area of approximately of 30,821 hectares located in Elko County, Nevada; and the La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila, as well as surface land ownership of 1,343 hectares.
