First Majestic Silver (NYSE:AG) Shares Gap Up – Still a Buy?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shares gapped up prior to trading on Thursday . The stock had previously closed at $5.54, but opened at $5.77. First Majestic Silver shares last traded at $5.89, with a volume of 1,611,126 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AG shares. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of First Majestic Silver in a report on Friday, January 10th. Scotiabank lowered their target price on shares of First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 15th.

First Majestic Silver Stock Down 4.9 %

The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 3.03. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -21.09 and a beta of 1.25. The business’s 50 day moving average price is $5.83 and its 200 day moving average price is $6.04.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly 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 firm had revenue of $146.09 million for the quarter. First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. On average, equities analysts forecast that First Majestic Silver Corp. will post -0.16 EPS for the current year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.0048 dividend. This represents a $0.02 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Friday, November 15th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s payout ratio is currently -3.70%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP increased its holdings in First Majestic Silver by 805.4% in the 4th quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock worth $29,000 after acquiring an additional 4,591 shares in the last quarter. Blue Trust Inc. increased its stake in shares of First Majestic Silver by 77.3% during the third 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. Y Intercept Hong Kong Ltd acquired a new position in shares of First Majestic Silver during the 3rd quarter worth about $70,000. Creative Planning purchased a new position in First Majestic Silver in the 3rd quarter valued at about $72,000. Finally, Corundum Trust Company INC acquired a new stake in First Majestic Silver in the 3rd quarter worth about $72,000. Hedge funds and other institutional investors own 27.16% of the company’s stock.

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.