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

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

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

First Majestic Silver Price Performance

AG opened at $12.14 on Monday. The company has a current ratio of 3.27, a quick ratio of 2.84 and a debt-to-equity ratio of 0.08. The company has a market cap of $5.94 billion, a price-to-earnings ratio of -1,212.79 and a beta of 0.78. The stock has a fifty day simple moving average of $9.31 and a two-hundred day simple moving average of $7.82. First Majestic Silver has a 12-month low of $5.09 and a 12-month high of $12.67.

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 analysts' consensus estimates of $0.06 by ($0.02). The business had revenue of $264.20 million for the quarter, compared to the consensus estimate of $387.25 million. First Majestic Silver had a net margin of 1.78% and a return on equity of 1.72%. The business's quarterly revenue was up 94.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) EPS. Research analysts predict that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.0048 per share. The ex-dividend date was Friday, August 29th. This represents a $0.02 annualized dividend and a dividend yield of 0.2%. First Majestic Silver's dividend payout ratio (DPR) is presently -200.00%.

Institutional Trading of First Majestic Silver

Several institutional investors have recently bought and sold shares of AG. Municipal Employees Retirement System of Michigan purchased a new position in First Majestic Silver in the first quarter worth about $47,656,000. Jupiter Asset Management Ltd. bought a new stake in shares of First Majestic Silver during the first quarter valued at approximately $46,070,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in First Majestic Silver by 74.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,666,756 shares of the mining company's stock worth $112,880,000 after acquiring an additional 5,821,751 shares during the last quarter. Sprott Inc. lifted its position in First Majestic Silver by 603.8% in the 1st quarter. Sprott Inc. now owns 4,612,904 shares of the mining company's stock valued at $30,856,000 after acquiring an additional 3,957,459 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in First Majestic Silver by 26.7% during the 1st quarter. Vanguard Group Inc. now owns 14,475,305 shares of the mining company's stock valued at $96,768,000 after purchasing an additional 3,051,614 shares during the last quarter. 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.