First Majestic Silver (NYSE:AG) Reaches New 52-Week High - Should You Buy?

Key Points

• First Majestic Silver's shares reached a new 52-week high of $9.89 before settling at $9.63, reflecting strong trading volume of nearly 9.85 million shares.
• Equities analysts have varied ratings on the stock, with a consensus average rating of "Hold" and a target price of $9.63, while HC Wainwright set a more optimistic target of $12.75.
• Despite reporting a quarterly loss of $0.04 per share, the company saw a substantial year-over-year revenue increase of 94%, totaling $264.20 million.

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR hit a new 52-week high on Thursday . The company traded as high as $9.89 and last traded at $9.63, with a volume of 9855441 shares changing hands. The stock had previously closed at $9.43.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AG shares. HC Wainwright reissued a "buy" rating and set a $12.75 price target on shares of First Majestic Silver in a research report on Friday, August 15th. National Bank Financial raised shares of First Majestic Silver to a "hold" rating in a research report on Thursday, June 12th. Finally, Scotiabank raised their price target on shares of First Majestic Silver from $6.00 to $6.50 and gave the company a "sector perform" rating in a research report on Wednesday, July 9th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, First Majestic Silver presently has a consensus rating of "Hold" and an average target price of $9.63.

First Majestic Silver Stock Performance

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 has a market cap of $5.06 billion, a P/E ratio of -1,036.96 and a beta of 0.78. The business's 50-day simple moving average is $8.87 and its 200 day simple moving average is $7.49.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted 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). First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.The company had revenue of $264.20 million during the quarter, compared to the consensus estimate of $387.25 million. During the same period last year, the firm posted ($0.07) EPS. The company's revenue for the quarter was up 94.0% on a year-over-year basis. As a group, equities analysts predict that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a $0.0048 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, August 29th. First Majestic Silver's payout ratio is -200.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. purchased a new position in shares of First Majestic Silver during the 2nd quarter worth $162,000. Newbridge Financial Services Group Inc. purchased a new position in shares of First Majestic Silver during the 2nd quarter worth $425,000. Marex Group plc purchased a new position in shares of First Majestic Silver during the 2nd quarter worth $224,000. Geneos Wealth Management Inc. boosted its stake in shares of First Majestic Silver by 33.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 135,227 shares of the mining company's stock worth $1,118,000 after acquiring an additional 33,575 shares during the last quarter. Finally, FORA Capital LLC boosted its stake in shares of First Majestic Silver by 1,216.2% during the 2nd quarter. FORA Capital LLC now owns 340,695 shares of the mining company's stock worth $2,818,000 after acquiring an additional 314,811 shares during the last quarter. Hedge funds and other institutional investors own 27.16% of the company's stock.

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.