First Majestic Silver (NYSE:AG) Sets New 1-Year High - Still a Buy?

Key Points

• First Majestic Silver Corp. shares hit a new 52-week high of $12.16, with a trading volume of over 39 million shares during the session.
• Analysts have mixed ratings for the stock, with a consensus rating of "Hold" and an average price target of $9.63.
• The company recently reported earnings of $0.04 per share, missing expectations, with a revenue of $264.2 million for the quarter, significantly below the anticipated $387.25 million.

Shares of First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $12.16 and last traded at $12.14, with a volume of 39351820 shares trading hands. The stock had previously closed at $10.62.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AG shares. HC Wainwright reiterated a "buy" rating and issued a $12.75 price objective on shares of First Majestic Silver in a report on Friday, August 15th. National Bank Financial upgraded First Majestic Silver to a "hold" rating in a report on Thursday, June 12th. Finally, Scotiabank boosted their price objective on First Majestic Silver from $6.00 to $6.50 and gave the company a "sector perform" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $9.63.

First Majestic Silver Price Performance

The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of -1,212.29 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.84 and a current ratio of 3.27. The company has a 50 day moving average of $9.06 and a 200 day moving average of $7.66.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its earnings results on Thursday, August 14th. The mining company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.The company had revenue of $264.20 million for the quarter, compared to analyst estimates of $387.25 million. During the same period in the previous year, the firm earned ($0.07) earnings per share. The company's revenue for the quarter was up 94.0% compared to the same quarter last year. As a group, equities research analysts anticipate that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $0.0048 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, August 29th. First Majestic Silver's dividend payout ratio is currently -200.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. raised its stake in shares of First Majestic Silver by 6.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 22,357 shares of the mining company's stock worth $185,000 after buying an additional 1,282 shares in the last quarter. Harbour Investments Inc. raised its stake in shares of First Majestic Silver by 7.3% during the 2nd quarter. Harbour Investments Inc. now owns 23,696 shares of the mining company's stock worth $196,000 after buying an additional 1,620 shares in the last quarter. CWM LLC raised its stake in shares of First Majestic Silver by 57.2% during the 2nd quarter. CWM LLC now owns 5,114 shares of the mining company's stock worth $42,000 after buying an additional 1,860 shares in the last quarter. Rathbones Group PLC raised its stake in shares of First Majestic Silver by 3.3% during the 1st quarter. Rathbones Group PLC now owns 58,732 shares of the mining company's stock worth $393,000 after buying an additional 1,880 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its holdings in shares of First Majestic Silver by 9.2% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 23,703 shares of the mining company's stock worth $196,000 after acquiring an additional 2,001 shares during the period. 27.16% of the stock is owned by institutional investors and hedge funds.

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.

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