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

Key Points

• First Majestic Silver Corp. has received a consensus recommendation of "Hold" from analysts, with an average target price of $9.6250 from five brokerages covering the stock.
• The company's latest earnings report showed a missed EPS estimate, with $0.05 reported against an expectation of $0.06, while quarterly revenue was 41.6% higher than the previous year but below analyst expectations.
• First Majestic Silver recently announced a dividend of $0.0045 per share, representing a 32.0% yield, and has a negative dividend payout ratio of -6.90%.

Shares of First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR have earned a consensus recommendation of "Hold" from the five analysts that are currently covering the stock, 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 objective among analysts that have issued ratings on the stock in the last year is $9.6250.

AG has been the topic of a number of research analyst reports. Scotiabank increased their price objective on shares of 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. National Bank Financial upgraded shares of First Majestic Silver to a "hold" rating in a research report on Thursday, June 12th. Finally, HC Wainwright raised their price target on shares of First Majestic Silver from $11.50 to $12.75 and gave the stock a "buy" rating in a research report on Thursday, July 10th.

First Majestic Silver Trading Down 1.6%

Shares of AG traded down $0.15 on Friday, hitting $8.80. 13,891,831 shares of the stock traded hands, compared to its average volume of 20,928,199. The company has a quick ratio of 2.74, a current ratio of 3.19 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $4.29 billion, a P/E ratio of -30.31 and a beta of 0.72. The stock's 50 day moving average is $8.45 and its two-hundred day moving average is $6.89. First Majestic Silver has a 1 year low of $4.59 and a 1 year high of $9.48.

First Majestic Silver Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.0048 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.2%. First Majestic Silver's dividend payout ratio (DPR) is presently -6.90%.

Institutional Trading of First Majestic Silver

Institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its stake in shares of First Majestic Silver by 1,221.6% in the 1st quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company's stock valued at $25,000 after purchasing an additional 3,506 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of First Majestic Silver in the 1st quarter valued at about $29,000. CWM LLC boosted its position in First Majestic Silver by 57.2% during the 2nd 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 last quarter. Banque Cantonale Vaudoise acquired a new position in First Majestic Silver during the 1st quarter worth approximately $46,000. Finally, Bank of Nova Scotia acquired a new stake in shares of First Majestic Silver in the 4th quarter valued at approximately $57,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

First Majestic Silver Company Profile

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.