First Majestic Silver (NYSE:AG) Trading Up 5% – Still a Buy?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s stock price was up 5% during trading on Thursday . The company traded as high as $6.50 and last traded at $6.49. Approximately 3,788,879 shares traded hands during trading, a decline of 54% from the average daily volume of 8,303,771 shares. The stock had previously closed at $6.18.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AG shares. HC Wainwright reiterated a “buy” rating and set a $8.50 price target on shares of First Majestic Silver in a report on Friday, October 18th. Cormark upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, September 6th.

First Majestic Silver Trading Up 4.4 %

The company has a market cap of $1.95 billion, a price-to-earnings ratio of -23.55 and a beta of 1.31. The business’s fifty day moving average price is $6.47 and its 200 day moving average price is $6.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.03 and a quick ratio of 2.45.

First Majestic Silver (NYSE:AG) (TSE:FR) last released 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). First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. The firm had revenue of $146.09 million during the quarter. Research analysts anticipate 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 paid a $0.0048 dividend. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 annualized dividend and a yield of 0.30%. The ex-dividend date is Friday, November 15th. First Majestic Silver’s payout ratio is -7.41%.

Institutional Investors Weigh In On First Majestic Silver

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. grew its position in First Majestic Silver by 77.3% in the 3rd quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock worth $31,000 after purchasing an additional 2,253 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in First Majestic Silver in the first quarter valued at about $62,000. Dark Forest Capital Management LP purchased a new position in First Majestic Silver in the second quarter valued at about $70,000. Creative Planning purchased a new position in First Majestic Silver in the third quarter valued at about $72,000. Finally, Corundum Trust Company INC purchased a new position in First Majestic Silver in the third quarter valued at about $72,000. 27.16% of the stock is 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.