First Majestic Silver Corp. (NYSE:AG) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• First Majestic Silver Corp. has received a consensus rating of "Hold" from five analysts, with a one-year price target averaging $9.6250.
• The company recently reported earnings of $0.04 EPS, missing consensus estimates, despite a 94% increase in quarterly revenue year-over-year.
• First Majestic Silver announced a quarterly dividend with an ex-dividend date set for August 29th, representing an annualized yield of 0.2%.

Shares of First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR have been assigned an average rating of "Hold" from the five analysts that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $9.6250.

A number of brokerages have recently issued reports on AG. HC Wainwright reissued a "buy" rating and issued a $12.75 price objective on shares of First Majestic Silver in a research note on Friday, August 15th. National Bank Financial raised First Majestic Silver to a "hold" rating in a research note on Thursday, June 12th. Finally, Scotiabank boosted their price objective on First Majestic Silver from $6.00 to $6.50 and gave the company a "sector perform" rating in a research note on Wednesday, July 9th.

First Majestic Silver Trading Down 1.4%

Shares of AG stock opened at $9.48 on Thursday. The firm has a market capitalization of $4.62 billion, a P/E ratio of -946.65 and a beta of 0.78. First Majestic Silver has a twelve month low of $4.59 and a twelve month high of $9.83. The stock's fifty day simple moving average is $8.65 and its 200 day simple moving average is $7.23. The company has a quick ratio of 2.84, a current ratio of 3.27 and a debt-to-equity ratio of 0.08.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its earnings results on Thursday, August 14th. The mining company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $264.20 million for the quarter, compared to analyst estimates of $387.25 million. First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.The firm's quarterly revenue was up 94.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) earnings per share. As a group, sell-side analysts predict that First Majestic Silver will post 0.54 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.0048 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, August 29th. First Majestic Silver's dividend payout ratio is -200.00%.

Institutional Trading of First Majestic Silver

Institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC raised its stake in shares of First Majestic Silver by 1,221.6% in the first quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company's stock worth $25,000 after purchasing an additional 3,506 shares during the last quarter. AlphaQuest LLC bought a new position in shares of First Majestic Silver in the first quarter worth $29,000. CWM LLC boosted its holdings in shares of First Majestic Silver by 57.2% in the second quarter. CWM LLC now owns 5,114 shares of the mining company's stock worth $42,000 after acquiring an additional 1,860 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of First Majestic Silver in the first quarter worth $46,000. Finally, Captrust Financial Advisors bought a new stake in First Majestic Silver during the fourth quarter valued at $58,000. 27.16% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.