HC Wainwright Reiterates Buy Rating for First Majestic Silver (NYSE:AG)

HC Wainwright reissued their buy rating on shares of First Majestic Silver (NYSE:AG) (TSE:FR) in a research report sent to investors on Friday, Marketbeat Ratings reports. They currently have a $8.50 price target on the mining company’s stock.

Separately, Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, September 6th.

First Majestic Silver Trading Up 4.0 %

AG opened at $7.59 on Friday. The business has a 50 day simple moving average of $5.94 and a two-hundred day simple moving average of $6.36. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -47.44 and a beta of 1.36. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.05 and a quick ratio of 2.44. First Majestic Silver has a one year low of $4.17 and a one year high of $8.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Thursday, August 1st. The mining company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). First Majestic Silver had a negative return on equity of 4.39% and a negative net margin of 15.37%. The firm had revenue of $136.20 million for the quarter, compared to analysts’ expectations of $129.74 million. During the same quarter last year, the company posted ($0.02) EPS. The firm’s revenue was down 7.2% on a year-over-year basis. Analysts predict that First Majestic Silver will post -0.13 EPS for the current year.

First Majestic Silver Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.0046 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.02 annualized dividend and a yield of 0.24%. First Majestic Silver’s dividend payout ratio is -6.25%.

Institutional Trading of First Majestic Silver

Several large investors have recently added to or reduced their stakes in the business. Veracity Capital LLC boosted its holdings in First Majestic Silver by 18.5% in the 3rd quarter. Veracity Capital LLC now owns 17,344 shares of the mining company’s stock worth $104,000 after buying an additional 2,710 shares during the period. Raymond James & Associates grew its position in First Majestic Silver by 17.7% in the third quarter. Raymond James & Associates now owns 558,096 shares of the mining company’s stock worth $3,349,000 after acquiring an additional 83,867 shares in the last quarter. Blue Trust Inc. grew its position in First Majestic Silver by 77.3% in the third quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock worth $31,000 after acquiring an additional 2,253 shares in the last quarter. Creative Planning purchased a new position in First Majestic Silver in the third quarter worth about $72,000. Finally, Cubist Systematic Strategies LLC grew its position in First Majestic Silver by 60.6% in the second quarter. Cubist Systematic Strategies LLC now owns 80,164 shares of the mining company’s stock worth $474,000 after acquiring an additional 30,260 shares in the last quarter. 27.16% of the stock is currently owned by 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.