First Majestic Silver Corp. (NYSE:AG) Receives $9.63 Average PT from 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 given a consensus rating of "Hold" by the five ratings firms that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $9.6250.

A number of equities research analysts recently issued reports on the stock. Scotiabank increased their target price on shares of First Majestic Silver from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research report on Wednesday, July 9th. HC Wainwright restated a "buy" rating and issued a $12.75 price objective on shares of First Majestic Silver in a research report on Friday, August 15th. Finally, National Bank Financial upgraded shares of First Majestic Silver to a "hold" rating in a research report on Thursday, June 12th.

First Majestic Silver Price Performance

Shares of AG stock traded down $0.26 during mid-day trading on Thursday, reaching $9.18. The company's stock had a trading volume of 5,904,134 shares, compared to its average volume of 20,720,176. First Majestic Silver has a 1-year low of $4.62 and a 1-year high of $9.83. The company has a market cap of $4.47 billion, a P/E ratio of -920.58 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.84 and a current ratio of 3.27. The firm's 50-day moving average is $8.71 and its two-hundred day moving average is $7.33.

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

First Majestic Silver Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.0048 dividend. This represents a $0.02 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, August 29th. First Majestic Silver's dividend payout ratio (DPR) is presently -100.00%.

Institutional Investors Weigh In On First Majestic Silver

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. acquired a new stake in First Majestic Silver in the 1st quarter valued at about $1,935,000. Oppenheimer & Co. Inc. bought a new position in shares of First Majestic Silver in the 1st quarter valued at about $79,000. Municipal Employees Retirement System of Michigan bought a new position in shares of First Majestic Silver in the 1st quarter valued at about $47,656,000. PCJ Investment Counsel Ltd. bought a new position in shares of First Majestic Silver in the 1st quarter valued at about $2,009,000. Finally, Trexquant Investment LP boosted its stake in shares of First Majestic Silver by 17.6% in the 1st quarter. Trexquant Investment LP now owns 1,207,445 shares of the mining company's stock valued at $8,078,000 after purchasing an additional 180,716 shares during the last quarter. Institutional investors and hedge funds 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.