First Majestic Silver (NYSE:AG) Sees Unusually-High Trading Volume - Time to Buy?

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR shares saw strong trading volume on Monday . 17,948,545 shares were traded during trading, an increase of 35% from the previous session's volume of 13,313,387 shares.The stock last traded at $6.86 and had previously closed at $6.17.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Scotiabank reaffirmed a "sector perform" rating and issued a $6.00 price target on shares of First Majestic Silver in a research note on Wednesday, April 2nd. Wall Street Zen raised shares of First Majestic Silver from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. HC Wainwright upped their price target on shares of First Majestic Silver from $11.00 to $11.50 and gave the stock a "buy" rating in a research note on Friday, May 9th. TD Securities raised shares of First Majestic Silver to a "hold" rating in a research note on Monday, March 10th. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of First Majestic Silver in a research note on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $8.75.

First Majestic Silver Price Performance

The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of -20.80 and a beta of 0.81. The stock's 50 day moving average price is $6.12 and its two-hundred day moving average price is $6.01.

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 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $241.12 million for the quarter, compared to analyst estimates of $358.65 million. First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. The company's quarterly revenue was up 41.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) earnings per share. Analysts anticipate that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Announces Dividend

The firm also recently announced 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 payout ratio is -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. increased its position in First Majestic Silver by 3.4% during the first quarter. Geneos Wealth Management Inc. now owns 101,652 shares of the mining company's stock worth $680,000 after buying an additional 3,300 shares during the last quarter. Bayforest Capital Ltd increased its position in First Majestic Silver by 1,978.6% during the first 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 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 buying an additional 931,690 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in First Majestic Silver by 66.4% during the first quarter. Dynamic Technology Lab Private Ltd now owns 100,855 shares of the mining company's stock valued at $675,000 after acquiring an additional 40,228 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in First Majestic Silver by 11.7% during the first 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 during the period. 27.16% of the stock is owned by institutional investors and hedge funds.

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.