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

Key Points

• First Majestic Silver Corp. has an average analyst recommendation of "Moderate Buy" from eight firms (3 holds, 4 buys, 1 strong buy) with a consensus 1‑year price target of $25.00.
• Major institutions have been increasing stakes—VanEck, Tidal, Vanguard, Mirae Asset and Arrowstreet all added shares—and institutions/hedge funds now own about 27.16% of the company.
• Most recent quarter showed EPS of $0.30 (beating $0.27 est.) but revenue of $463.9M missed expectations; market cap is roughly $10.38B, P/E ~60, and the company raised its quarterly dividend to $0.0083 (annual ~$0.03, yield ~0.2%).

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR has received an average recommendation of "Moderate Buy" from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $25.00.

AG has been the topic of several analyst reports. Zacks Research cut shares of First Majestic Silver from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Scotiabank boosted their price target on shares of First Majestic Silver from $12.50 to $23.00 and gave the stock a "sector perform" rating in a research report on Monday, January 26th. BMO Capital Markets raised shares of First Majestic Silver from a "market perform" rating to an "outperform" rating in a research report on Tuesday, March 24th. HC Wainwright boosted their price target on shares of First Majestic Silver to $30.00 and gave the stock a "buy" rating in a research report on Friday, February 20th. Finally, Wall Street Zen raised shares of First Majestic Silver from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 4th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Van ECK Associates Corp increased its stake in shares of First Majestic Silver by 32.0% during the 3rd quarter. Van ECK Associates Corp now owns 43,225,807 shares of the mining company's stock worth $531,234,000 after purchasing an additional 10,471,543 shares during the last quarter. Tidal Investments LLC increased its stake in shares of First Majestic Silver by 14.0% during the 3rd quarter. Tidal Investments LLC now owns 21,014,859 shares of the mining company's stock worth $258,273,000 after purchasing an additional 2,581,023 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of First Majestic Silver by 5.2% during the 4th quarter. Vanguard Group Inc. now owns 18,995,222 shares of the mining company's stock worth $316,914,000 after purchasing an additional 945,067 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in First Majestic Silver by 38.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,932,368 shares of the mining company's stock valued at $232,539,000 after buying an additional 5,265,612 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in First Majestic Silver by 408.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 15,041,912 shares of the mining company's stock valued at $250,821,000 after buying an additional 12,081,688 shares during the last quarter. 27.16% of the stock is currently owned by institutional investors and hedge funds.

First Majestic Silver Trading Down 0.5%

AG opened at $21.06 on Friday. The stock has a market capitalization of $10.38 billion, a P/E ratio of 60.18 and a beta of 0.97. First Majestic Silver has a 12 month low of $5.49 and a 12 month high of $32.03. The firm's fifty day simple moving average is $23.44 and its 200 day simple moving average is $18.51. The company has a current ratio of 2.60, a quick ratio of 2.41 and a debt-to-equity ratio of 0.09.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly earnings data on Thursday, February 19th. The mining company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. First Majestic Silver had a net margin of 13.12% and a return on equity of 7.25%. The business had revenue of $463.92 million for the quarter, compared to analysts' expectations of $561.30 million. During the same period in the previous year, the firm posted $0.03 EPS. The firm's revenue was up 169.2% compared to the same quarter last year. As a group, research analysts anticipate that First Majestic Silver will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were paid a dividend of $0.0083 per share. The ex-dividend date was Friday, February 27th. This represents a $0.03 annualized dividend and a dividend yield of 0.2%. This is a boost from First Majestic Silver's previous quarterly dividend of $0.01. First Majestic Silver's dividend payout ratio (DPR) is presently 8.57%.

First Majestic Silver Company Profile

First Majestic Silver Corp. NYSE: AG engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.

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