First Majestic Silver (NYSE:AG) Hits New 12-Month High - Here's Why

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR's stock price hit a new 52-week high during trading on Thursday . The company traded as high as $8.74 and last traded at $8.47, with a volume of 6015398 shares traded. The stock had previously closed at $8.51.

Analyst Ratings Changes

AG has been the topic of a number of analyst reports. National Bankshares reiterated a "sector perform" rating on shares of First Majestic Silver in a research report on Wednesday, April 2nd. Scotiabank reaffirmed a "sector perform" rating and set a $6.00 target price on shares of First Majestic Silver in a research note on Wednesday, April 2nd. HC Wainwright lifted 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 note on Friday, May 9th. National Bank Financial raised shares of First Majestic Silver to a "hold" rating in a research note on Thursday, June 12th. Finally, TD Securities raised shares of First Majestic Silver to a "hold" rating in a research note on Monday, March 10th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $8.75.

First Majestic Silver Price Performance

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 50 day moving average is $7.06 and its 200 day moving average is $6.33. The firm has a market cap of $4.12 billion, a P/E ratio of -29.33 and a beta of 0.82.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued 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 firm had revenue of $241.12 million during the quarter, compared to the consensus estimate of $358.65 million. First Majestic Silver had a negative return on equity of 0.14% and a negative net margin of 12.32%. The company's quarterly revenue was up 41.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.05) EPS. As a group, analysts anticipate that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Announces Dividend

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

Institutional Trading of First Majestic Silver

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AG. Parallel Advisors LLC increased its holdings in First Majestic Silver by 1,221.6% during the first quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company's stock valued at $25,000 after buying an additional 3,506 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of First Majestic Silver in the first quarter worth $29,000. Banque Cantonale Vaudoise purchased a new stake in shares of First Majestic Silver in the first quarter worth $46,000. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of First Majestic Silver in the fourth quarter worth $55,000. Finally, Bank of Nova Scotia purchased a new stake in shares of First Majestic Silver in the fourth quarter worth $57,000. 27.16% of the stock is owned by hedge funds and other institutional investors.

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.