First Majestic Silver Corp. (NYSE:AG) to Issue $0.00 Quarterly Dividend

Key Points

• First Majestic Silver Corp. announced a quarterly dividend of $0.00, with stockholders of record expected to be paid a dividend of $0.0048 per share on September 15th.
• The company has a dividend payout ratio of 8.3%, indicating its dividend is well covered by earnings, with expectations to earn $0.80 per share next year.
• First Majestic Silver's stock increased by $0.10 during recent trading, reaching a price of $9.04, as institutional investors hold 27.16% of the stock.

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR announced a quarterly dividend on Thursday, August 14th, RTT News reports. Stockholders of record on Friday, August 29th will be paid a dividend of 0.0048 per share by the mining company on Monday, September 15th. This represents a c) annualized dividend and a dividend yield of 0.2%.

First Majestic Silver has a dividend payout ratio of 8.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Majestic Silver to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 2.5%.

First Majestic Silver Price Performance

Shares of First Majestic Silver stock traded up $0.10 during trading on Thursday, hitting $9.04. 6,648,062 shares of the company's stock traded hands, compared to its average volume of 20,874,977. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.19 and a quick ratio of 2.74. The firm's fifty day moving average price is $8.45 and its 200 day moving average price is $6.89. First Majestic Silver has a twelve month low of $4.59 and a twelve month high of $9.48. The company has a market cap of $4.40 billion, a PE ratio of -31.26 and a beta of 0.72.

Hedge Funds Weigh In On First Majestic Silver

A number of large investors have recently modified their holdings of AG. SBI Securities Co. Ltd. raised its holdings in shares of First Majestic Silver by 6.1% during the second quarter. SBI Securities Co. Ltd. now owns 22,357 shares of the mining company's stock worth $185,000 after acquiring an additional 1,282 shares during the period. Harbour Investments Inc. grew its position in shares of First Majestic Silver by 7.3% in the 2nd quarter. Harbour Investments Inc. now owns 23,696 shares of the mining company's stock valued at $196,000 after acquiring an additional 1,620 shares during the period. Franklin Resources Inc. grew its position in shares of First Majestic Silver by 8.3% in the 4th quarter. Franklin Resources Inc. now owns 23,240 shares of the mining company's stock valued at $128,000 after acquiring an additional 1,776 shares during the period. CWM LLC grew its position in shares of First Majestic Silver by 57.2% in the 2nd quarter. CWM LLC now owns 5,114 shares of the mining company's stock valued at $42,000 after acquiring an additional 1,860 shares during the period. Finally, Rathbones Group PLC grew its position in shares of First Majestic Silver by 3.3% in the 1st quarter. Rathbones Group PLC now owns 58,732 shares of the mining company's stock valued at $393,000 after acquiring an additional 1,880 shares during the period. 27.16% of the stock is currently owned by institutional investors and hedge funds.

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.

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