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

Key Points

• First Majestic Silver has a “Moderate Buy” consensus rating from seven brokerages, with four buys and three holds. Analysts’ average 12-month price target is $24.75.
• The company reported quarterly EPS of $0.21, below the $0.25 consensus estimate, while revenue of $415.5 million also missed expectations but rose 57.3% year over year.
• First Majestic reduced its quarterly dividend to $0.0152 per share, equating to a $0.06 annualized payout and a 0.4% yield.

Shares of First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR have earned an average rating of "Moderate Buy" from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $24.75.

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

First Majestic Silver Stock Performance

Shares of First Majestic Silver stock opened at $16.98 on Friday. The business's fifty day simple moving average is $19.17 and its 200 day simple moving average is $19.10. The firm has a market capitalization of $8.37 billion, a P/E ratio of 23.92 and a beta of 0.97. First Majestic Silver has a 12 month low of $10.19 and a 12 month high of $32.03. The company has a current ratio of 2.57, a quick ratio of 2.38 and a debt-to-equity ratio of 0.08.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its quarterly earnings data on Thursday, July 30th. The mining company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $415.50 million during the quarter, compared to the consensus estimate of $496.00 million. During the same quarter last year, the company earned $0.11 EPS. The firm's revenue for the quarter was up 57.3% compared to the same quarter last year. As a group, analysts anticipate that First Majestic Silver will post 0.81 EPS for the current year.

First Majestic Silver Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were issued a dividend of $0.0152 per share. This represents a $0.06 annualized dividend and a yield of 0.4%. This is a negative change from First Majestic Silver's previous quarterly dividend of $0.0171. The ex-dividend date of this dividend was Friday, August 14th. First Majestic Silver's dividend payout ratio is currently 8.45%.

Institutional Trading of First Majestic Silver

A number of large investors have recently bought and sold shares of AG. Harbor Investment Advisory LLC purchased a new position in shares of First Majestic Silver during the 1st quarter valued at $32,000. PNC Financial Services Group Inc. raised its stake in First Majestic Silver by 184.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company's stock valued at $32,000 after acquiring an additional 978 shares during the period. Parallel Advisors LLC raised its stake in 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 acquiring an additional 560 shares during the period. Bard Associates Inc. purchased a new stake in First Majestic Silver during the fourth quarter valued at about $52,000. Finally, Trust Co. of Vermont purchased a new stake in First Majestic Silver during the second quarter valued at about $61,000. 27.16% of the stock is owned by hedge funds and other institutional investors.

First Majestic Silver Company Profile

First Majestic Silver Corp. is a mining company focused on the exploration, development and production of silver, gold and related metals. The company also produces and sells investment-grade silver bullion through its own minting and retail operations.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically operated a portfolio of silver-producing mines in Mexico, including San Dimas in Durango, Santa Elena in Sonora and La Encantada in Coahuila.

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