First Majestic Silver Corp. (AG) to Issue Quarterly Dividend of $0.01 on March 14th

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Friday, February 28th will be paid a dividend of 0.0057 per share by the mining company on Friday, March 14th. This represents a $0.02 annualized dividend and a yield of 0.41%. The ex-dividend date is Friday, February 28th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.0048.

First Majestic Silver has raised its dividend by an average of 5.1% annually over the last three years. First Majestic Silver has a payout ratio of 4.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Majestic Silver to earn $0.80 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 2.5%.

First Majestic Silver Stock Down 3.7 %

Shares of First Majestic Silver stock opened at $5.55 on Friday. First Majestic Silver has a one year low of $4.28 and a one year high of $8.44. The company has a quick ratio of 2.45, a current ratio of 3.03 and a debt-to-equity ratio of 0.16. The business’s 50 day simple moving average is $5.68 and its two-hundred day simple moving average is $6.01.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its earnings results on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The firm had revenue of $172.34 million during the quarter, compared to analysts’ expectations of $227.77 million. First Majestic Silver had a negative return on equity of 3.06% and a negative net margin of 18.17%. Analysts anticipate that First Majestic Silver will post 0.54 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Scotiabank dropped 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 report on Wednesday, January 15th. StockNews.com upgraded First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday. Finally, HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of First Majestic Silver in a research note on Friday.

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.