First Majestic Silver (NYSE:AG) Upgraded by National Bank Financial to Hold Rating

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

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

First Majestic Silver Stock Performance

Shares of NYSE:AG traded up $0.28 during midday trading on Thursday, hitting $8.55. The company had a trading volume of 26,631,505 shares, compared to its average volume of 14,449,849. The company has a fifty day moving average of $6.50 and a two-hundred day moving average of $6.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 2.12. First Majestic Silver has a 12-month low of $4.43 and a 12-month high of $8.66. The company has a market cap of $4.14 billion, a price-to-earnings ratio of -24.41 and a beta of 0.74.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $358.65 million. First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. The company's quarterly revenue was up 41.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) EPS. On average, equities research analysts expect that First Majestic Silver will post 0.54 EPS for the current fiscal year.

First Majestic Silver Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were paid 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 payout ratio is currently -3.45%.

Hedge Funds Weigh In On First Majestic Silver

Several hedge funds have recently bought and sold shares of the business. Geneos Wealth Management Inc. grew its stake in First Majestic Silver by 3.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 101,652 shares of the mining company's stock worth $680,000 after acquiring an additional 3,300 shares in the last quarter. Bayforest Capital Ltd grew its position in shares of First Majestic Silver by 1,978.6% in the 1st quarter. Bayforest Capital Ltd now owns 213,843 shares of the mining company's stock worth $1,431,000 after buying an additional 203,555 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of First Majestic Silver by 355.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,193,589 shares of the mining company's stock worth $7,985,000 after purchasing an additional 931,690 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in First Majestic Silver by 66.4% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 100,855 shares of the mining company's stock valued at $675,000 after buying an additional 40,228 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 purchasing an additional 820,664 shares during the last quarter. 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.