First Majestic Silver Corp. (NYSE:AG) Increases Dividend to $0.00 Per Share

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.0048 per share by the mining company on Friday, November 29th. This represents a $0.02 annualized dividend and a yield of 0.30%. The ex-dividend date is Friday, November 15th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.0046.

First Majestic Silver has a payout ratio of 8.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Majestic Silver to earn $0.21 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 9.5%.

First Majestic Silver Stock Down 4.3 %

First Majestic Silver stock traded down $0.29 during mid-day trading on Friday, hitting $6.47. 7,851,226 shares of the company’s stock were exchanged, compared to its average volume of 8,277,230. The company has a current ratio of 3.05, a quick ratio of 2.44 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.95 billion, a P/E ratio of -23.96 and a beta of 1.31. First Majestic Silver has a 1-year low of $4.17 and a 1-year high of $8.44. The stock has a 50 day moving average of $6.40 and a two-hundred day moving average of $6.37.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Thursday, November 7th. The mining company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.12). The business had revenue of $146.09 million for the quarter. First Majestic Silver had a negative return on equity of 4.39% and a negative net margin of 15.37%. As a group, analysts anticipate that First Majestic Silver will post -0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AG. HC Wainwright reaffirmed a “buy” rating and issued a $8.50 price target on shares of First Majestic Silver in a research report on Friday, October 18th. Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, September 6th.

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.