First Majestic Silver Corp. (NYSE:AG) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately bullish: First Majestic Silver has a consensus “Moderate Buy” rating from nine analysts, with an average 12-month price target of $23.83 versus a recent price of $19.55.
• Quarterly results missed expectations: The company reported $0.21 in quarterly EPS versus the $0.25 consensus estimate and revenue of $415.5 million versus $496 million expected, although revenue increased 57.3% year over year.
• The company pays a modest dividend: First Majestic declared a quarterly dividend of $0.0152, equivalent to $0.06 annually and a 0.3% yield, with a payout ratio of 8.45%.

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR has been assigned an average rating of "Moderate Buy" from the nine analysts that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $23.8333.

Several brokerages recently issued reports on AG. HC Wainwright increased their price objective on First Majestic Silver from $26.00 to $27.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Scotiabank lowered their target price on First Majestic Silver from $23.00 to $22.50 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of First Majestic Silver in a research report on Wednesday, September 2nd. Wall Street Zen lowered First Majestic Silver from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, ATB Cormark Capital Markets raised First Majestic Silver from a "hold" rating to a "moderate buy" rating in a research note on Friday, July 10th.

First Majestic Silver Stock Performance

AG stock opened at $19.55 on Monday. The firm has a 50 day simple moving average of $18.41 and a 200 day simple moving average of $20.09. First Majestic Silver has a 52 week low of $9.68 and a 52 week high of $32.03. The stock has a market cap of $9.64 billion, a P/E ratio of 27.54 and a beta of 1.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.38 and a current ratio of 2.57.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its quarterly earnings data on Thursday, July 30th. The mining company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.04). First Majestic Silver had a net margin of 21.18% and a return on equity of 13.36%. The company had revenue of $415.50 million during the quarter, compared to analyst estimates of $496.00 million. During the same quarter in the prior year, the company posted $0.11 EPS. The firm's quarterly revenue was up 57.3% compared to the same quarter last year. Research analysts anticipate that First Majestic Silver will post 0.81 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were paid a $0.0152 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%. First Majestic Silver's payout ratio is 8.45%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AG. Wealthspire Retirement LLC lifted its stake in First Majestic Silver by 1.4% during the fourth quarter. Wealthspire Retirement LLC now owns 32,450 shares of the mining company's stock worth $541,000 after purchasing an additional 450 shares during the period. M Holdings Securities Inc. grew its stake in shares of First Majestic Silver by 3.1% in the 2nd quarter. M Holdings Securities Inc. now owns 16,960 shares of the mining company's stock valued at $285,000 after purchasing an additional 515 shares during the period. Parallel Advisors LLC grew its stake in shares of First Majestic Silver by 36.4% in the 1st quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company's stock valued at $45,000 after purchasing an additional 560 shares during the period. Harbour Investments Inc. raised its holdings in shares of First Majestic Silver by 2.9% in the 4th quarter. Harbour Investments Inc. now owns 24,656 shares of the mining company's stock worth $411,000 after buying an additional 697 shares in the last quarter. Finally, Orion Porfolio Solutions LLC raised its holdings in shares of First Majestic Silver by 3.0% in the 4th quarter. Orion Porfolio Solutions LLC now owns 24,999 shares of the mining company's stock worth $416,000 after buying an additional 718 shares in the last quarter. Institutional investors and hedge funds own 27.16% of the company's stock.

First Majestic Silver Company Profile

First Majestic Silver Corp. is a mining company focused on the exploration, development, and production of silver, gold, lead, and zinc. The company generates revenue primarily by producing and selling metal concentrates, doré bars, and other refined precious-metal products.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically concentrated its operations in Mexico and the United States. Its principal Mexican mining assets have included the San Dimas, Santa Elena, and La Encantada mines, while its U.S.

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