First Majestic Silver (NYSE:AG) Hits New 1-Year High - Here's What Happened

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

Analyst Ratings Changes

AG has been the subject of several recent analyst reports. Scotiabank reiterated a "sector perform" rating and set a $6.00 price objective on shares of First Majestic Silver in a research note on Wednesday, April 2nd. National Bank Financial raised First Majestic Silver to a "hold" rating in a research report on Thursday, June 12th. 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 restated a "sector perform" rating on shares of First Majestic Silver in a research note on Wednesday, April 2nd. Finally, TD Securities upgraded First Majestic Silver to a "hold" rating in a research note on Monday, March 10th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $8.75.

First Majestic Silver Stock Down 0.1%

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 business's fifty day moving average price is $6.97 and its two-hundred day moving average price is $6.29. The stock has a market capitalization of $4.12 billion, a PE ratio of -29.33 and a beta of 0.82.

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

First Majestic Silver Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were given a dividend of $0.0045 per share. 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 presently -6.90%.

Institutional Trading of First Majestic Silver

Several large investors have recently made changes to their positions in AG. Charles Schwab Investment Management Inc. raised its holdings in shares of First Majestic Silver by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 565,982 shares of the mining company's stock worth $3,109,000 after purchasing an additional 18,219 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of First Majestic Silver during the 4th quarter valued at about $161,000. Raymond James Financial Inc. purchased a new position in shares of First Majestic Silver during the 4th quarter valued at about $2,442,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of First Majestic Silver in the 4th quarter valued at about $55,000. Finally, Moors & Cabot Inc. grew its holdings in First Majestic Silver by 19.6% during the fourth quarter. Moors & Cabot Inc. now owns 17,100 shares of the mining company's stock worth $94,000 after acquiring an additional 2,800 shares during the period. 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.