First Majestic Silver (NYSE:AG) Reaches New 12-Month High - Still a Buy?

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR's stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $8.70 and last traded at $8.46, with a volume of 3122025 shares. The stock had previously closed at $8.55.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AG. National Bankshares reiterated a "sector perform" rating on shares of First Majestic Silver in a report on Wednesday, April 2nd. Wall Street Zen upgraded First Majestic Silver from a "sell" rating to a "hold" rating in a report on Friday, February 21st. National Bank Financial raised shares of First Majestic Silver to a "hold" rating in a research note on Thursday, June 12th. HC Wainwright raised their target price on shares of First Majestic Silver from $11.00 to $11.50 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, TD Securities upgraded shares of First Majestic Silver to a "hold" rating in a report on Monday, March 10th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, First Majestic Silver has an average rating of "Hold" and an average target price of $8.75.

First Majestic Silver Trading Down 2.4%

The company has a current ratio of 3.19, a quick ratio of 2.74 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $4.04 billion, a P/E ratio of -28.77 and a beta of 0.74. The company has a 50-day moving average price of $6.60 and a 200 day moving average price of $6.16.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its earnings results on Wednesday, May 7th. The mining company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $241.12 million during the quarter, compared to analysts' expectations of $358.65 million. First Majestic Silver had a negative net margin of 12.32% and a negative return on equity of 0.14%. First Majestic Silver's revenue for the quarter was up 41.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS. On average, research analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Announces Dividend

The company also recently declared a dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were issued a $0.0045 dividend. This represents a yield of 0.32%. The ex-dividend date of this dividend was Friday, May 16th. First Majestic Silver's dividend payout ratio is currently -6.90%.

Hedge Funds Weigh In On First Majestic Silver

Several hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. increased its stake in shares of First Majestic Silver by 8.3% in the fourth quarter. Franklin Resources Inc. now owns 23,240 shares of the mining company's stock worth $128,000 after acquiring an additional 1,776 shares during the period. Rathbones Group PLC boosted its holdings in First Majestic Silver by 3.3% in the first quarter. Rathbones Group PLC now owns 58,732 shares of the mining company's stock valued at $393,000 after purchasing an additional 1,880 shares during the last quarter. CIBC Asset Management Inc grew its position in First Majestic Silver by 0.6% during the 4th quarter. CIBC Asset Management Inc now owns 370,255 shares of the mining company's stock worth $2,030,000 after purchasing an additional 2,288 shares during the period. Synovus Financial Corp grew its position in First Majestic Silver by 6.8% during the 1st quarter. Synovus Financial Corp now owns 39,852 shares of the mining company's stock worth $267,000 after purchasing an additional 2,552 shares during the period. Finally, Moors & Cabot Inc. raised its stake in shares of First Majestic Silver by 19.6% during the 4th quarter. Moors & Cabot Inc. now owns 17,100 shares of the mining company's stock valued at $94,000 after buying an additional 2,800 shares during the last quarter. Institutional investors and hedge funds 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.