First Majestic Silver (NYSE:AG) Shares Down 10.1% - Time to Sell?

Key Points

• Shares fell 10.1% intraday to about $28.40 on Tuesday (after a $31.60 close), with roughly 27.85 million shares trading hands.
• Analyst consensus is a “Moderate Buy” but with a relatively low average target of $25.00; ratings are mixed (2 Strong Buy, 3 Buy, 3 Hold) and some firms (e.g., HC Wainwright) maintain higher $30 targets.
• Latest quarter: First Majestic beat EPS estimates ($0.30 vs. $0.27) but missed revenue expectations ($463.9M vs. $561.3M); the company has a $14B market cap, PE of 81.15, strong liquidity (quick ratio 2.96) and low leverage (debt/equity 0.07).

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR's share price was down 10.1% on Tuesday . The company traded as low as $26.97 and last traded at $28.40. Approximately 27,852,168 shares traded hands during mid-day trading, a decline of 1% from the average daily volume of 28,003,117 shares. The stock had previously closed at $31.60.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Cormark upgraded First Majestic Silver from a "hold" rating to a "moderate buy" rating in a research report on Thursday, November 6th. HC Wainwright upped their target price on shares of First Majestic Silver to $30.00 and gave the stock a "buy" rating in a research report on Friday, February 20th. Zacks Research upgraded shares of First Majestic Silver from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 19th. BMO Capital Markets reissued a "market perform" rating on shares of First Majestic Silver in a research note on Friday, January 16th. Finally, Wall Street Zen upgraded First Majestic Silver from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, First Majestic Silver has an average rating of "Moderate Buy" and an average target price of $25.00.

First Majestic Silver Trading Down 10.1%

The company has a quick ratio of 2.96, a current ratio of 3.38 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $14.00 billion, a PE ratio of 81.15 and a beta of 0.75. The business's fifty day moving average price is $22.17 and its 200 day moving average price is $15.76.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its quarterly earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.03. First Majestic Silver had a return on equity of 7.41% and a net margin of 13.12%.The company had revenue of $463.92 million for the quarter, compared to analyst estimates of $561.30 million. During the same quarter in the prior year, the company posted $0.03 EPS. The business's revenue for the quarter was up 169.2% compared to the same quarter last year. As a group, analysts expect that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.0083 per share. This is an increase from First Majestic Silver's previous quarterly dividend of $0.01. This represents a $0.03 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Friday, February 27th. First Majestic Silver's payout ratio is 8.57%.

Hedge Funds Weigh In On First Majestic Silver

Several hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of First Majestic Silver by 18,702.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 58,476 shares of the mining company's stock worth $974,000 after purchasing an additional 58,165 shares during the period. Invesco Ltd. lifted its position in First Majestic Silver by 49.1% during the fourth quarter. Invesco Ltd. now owns 1,552,733 shares of the mining company's stock valued at $25,869,000 after buying an additional 511,230 shares in the last quarter. Wealthspire Retirement LLC grew its stake in First Majestic Silver by 1.4% during the fourth quarter. Wealthspire Retirement LLC now owns 32,450 shares of the mining company's stock worth $541,000 after buying an additional 450 shares during the period. Vident Advisory LLC acquired a new stake in shares of First Majestic Silver in the fourth quarter worth $996,000. Finally, State of Tennessee Department of Treasury purchased a new position in shares of First Majestic Silver in the 4th quarter valued at $182,000. 27.16% of the stock is owned by institutional investors and hedge funds.

First Majestic Silver Company Profile

First Majestic Silver Corp. NYSE: AG engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.

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