Scotiabank Increases First Majestic Silver (NYSE:AG) Price Target to $6.50

First Majestic Silver (NYSE:AG) (TSE:FR) had its price target lifted by Scotiabank from $5.50 to $6.50 in a research report sent to investors on Thursday, Benzinga reports. They currently have a sector perform rating on the mining company’s stock.

A number of other equities research analysts also recently commented on AG. HC Wainwright reiterated a buy rating and set a $8.50 price target on shares of First Majestic Silver in a report on Thursday, May 9th. StockNews.com upgraded shares of First Majestic Silver to a sell rating in a report on Monday, February 26th.

First Majestic Silver Stock Performance

Shares of AG opened at $7.17 on Thursday. The company has a current ratio of 2.33, a quick ratio of 1.77 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.06 billion, a P/E ratio of -44.81 and a beta of 1.39. The company has a 50-day moving average of $6.86 and a two-hundred day moving average of $5.84. First Majestic Silver has a 12-month low of $4.17 and a 12-month high of $8.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its earnings results on Thursday, February 22nd. The mining company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $136.95 million during the quarter. First Majestic Silver had a negative net margin of 9.18% and a negative return on equity of 3.28%. During the same quarter in the previous year, the firm posted ($0.07) EPS. As a group, research analysts predict that First Majestic Silver will post -0.03 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be issued a $0.004 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.02 dividend on an annualized basis and a yield of 0.22%. First Majestic Silver’s payout ratio is -6.25%.

Institutional Investors Weigh In On First Majestic Silver

A number of institutional investors have recently bought and sold shares of AG. Creekmur Asset Management LLC purchased a new stake in First Majestic Silver in the fourth quarter valued at approximately $43,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in First Majestic Silver in the first quarter valued at approximately $48,000. B. Riley Wealth Advisors Inc. purchased a new stake in First Majestic Silver in the first quarter valued at approximately $62,000. Capstone Investment Advisors LLC purchased a new stake in First Majestic Silver in the fourth quarter valued at approximately $69,000. Finally, AXQ Capital LP grew its holdings in First Majestic Silver by 63.2% in the third quarter. AXQ Capital LP now owns 17,300 shares of the mining company’s stock valued at $89,000 after purchasing an additional 6,700 shares during the period. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

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. 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.