First Majestic Silver (NYSE:AG) Raised to "Hold" at National Bank Financial

National Bank Financial upgraded shares of First Majestic Silver (NYSE:AG - Free Report) TSE: FR to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Other analysts also recently issued reports about the company. HC Wainwright increased their price objective on First Majestic Silver from $11.00 to $11.50 and gave the company a "buy" rating in a report on Friday, May 9th. National Bankshares reiterated a "sector perform" rating on shares of First Majestic Silver in a report on Wednesday, April 2nd. TD Securities upgraded First Majestic Silver to a "hold" rating in a report on Monday, March 10th. Scotiabank reiterated a "sector perform" rating and set a $6.00 price target on shares of First Majestic Silver in a report on Wednesday, April 2nd. Finally, Wall Street Zen upgraded First Majestic Silver from a "sell" rating to a "hold" rating in a report on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $8.75.

First Majestic Silver Price Performance

NYSE AG traded up $0.09 on Thursday, hitting $8.33. 18,786,200 shares of the company's stock were exchanged, compared to its average volume of 14,370,660. The stock has a 50-day moving average of $6.44 and a 200-day moving average of $6.11. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16. First Majestic Silver has a 52 week low of $4.43 and a 52 week high of $8.66. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of -23.79 and a beta of 0.74.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its earnings results on Wednesday, May 7th. The mining company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. The business had revenue of $241.12 million for the quarter, compared to the consensus estimate of $358.65 million. During the same quarter in the previous year, the company earned ($0.05) earnings per share. The firm's revenue for the quarter was up 41.6% on a year-over-year basis. Analysts expect that First Majestic Silver will post 0.54 earnings per share for the current year.

First Majestic Silver Announces Dividend

The company also recently announced a dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were paid a $0.0045 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a dividend yield of 0.32%. First Majestic Silver's dividend payout ratio is presently -3.45%.

Hedge Funds Weigh In On First Majestic Silver

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in First Majestic Silver by 26.7% in the 1st quarter. Vanguard Group Inc. now owns 14,475,305 shares of the mining company's stock valued at $96,768,000 after acquiring an additional 3,051,614 shares in the last quarter. Tidal Investments LLC lifted its position in First Majestic Silver by 135.2% in the 4th quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company's stock valued at $74,647,000 after acquiring an additional 7,816,177 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in First Majestic Silver by 11.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,845,005 shares of the mining company's stock valued at $52,436,000 after acquiring an additional 820,664 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new position in First Majestic Silver in the 1st quarter valued at about $47,656,000. Finally, Jupiter Asset Management Ltd. bought a new position in First Majestic Silver in the 1st quarter valued at about $46,070,000. Institutional investors own 27.16% of the company's stock.

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.