First Majestic Silver (NYSE:AG) Shares Down 7.1% - Time to Sell?

Key Points

• Shares fell 7.1% intraday to $22.87 on Friday, with roughly 10.14 million shares traded — about 61% below the stock's average daily volume of 26.32 million.
• Quarterly results were mixed: First Majestic reported EPS of $0.30 (beating the $0.27 consensus) but revenue of $463.92 million missed estimates of $561.3 million, despite a 169% year-over-year revenue increase.
• Analyst sentiment and dividend: The stock has a MarketBeat consensus of "Moderate Buy" with an average target of $25 and several recent upgrades, and the company announced a quarterly dividend of $0.0083 per share (annualized $0.03, yield ~0.1%; ex-dividend Feb. 27).

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR dropped 7.1% during mid-day trading on Friday . The stock traded as low as $22.81 and last traded at $22.8730. Approximately 10,140,770 shares changed hands during trading, a decline of 61% from the average daily volume of 26,324,467 shares. The stock had previously closed at $24.63.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Weiss Ratings restated a "hold (c-)" rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. HC Wainwright raised their price target on First Majestic Silver to $30.00 and gave the company a "buy" rating in a report on Friday, February 20th. BMO Capital Markets restated a "market perform" rating on shares of First Majestic Silver in a research note on Friday, January 16th. Wall Street Zen upgraded shares of First Majestic Silver from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. Finally, Zacks Research raised shares of First Majestic Silver from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $25.00.

First Majestic Silver Trading Down 7.2%

The stock has a market capitalization of $11.26 billion, a P/E ratio of 64.95 and a beta of 0.76. The business has a 50 day simple moving average of $23.70 and a 200-day simple moving average of $16.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.38.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly earnings data on Thursday, February 19th. The mining company reported $0.30 EPS 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 the consensus estimate of $561.30 million. During the same quarter in the previous year, the business earned $0.03 EPS. The company's quarterly revenue was up 169.2% compared to the same quarter last year. On average, analysts predict that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a dividend of $0.0083 per share. This is a positive change from First Majestic Silver's previous quarterly dividend of $0.01. The ex-dividend date is Friday, February 27th. This represents a $0.03 annualized dividend and a dividend yield of 0.1%. First Majestic Silver's payout ratio is 8.57%.

Institutional Trading of First Majestic Silver

Several institutional investors and hedge funds have recently added to or reduced their stakes in AG. World Investment Advisors acquired a new position in First Majestic Silver in the fourth quarter worth approximately $191,000. Caitong International Asset Management Co. Ltd boosted its stake 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 acquiring an additional 58,165 shares in the last quarter. Invesco Ltd. grew its holdings in shares of First Majestic Silver by 49.1% in the 4th quarter. Invesco Ltd. now owns 1,552,733 shares of the mining company's stock worth $25,869,000 after acquiring an additional 511,230 shares during the last quarter. Wealthspire Retirement LLC raised its position in shares of 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 purchasing an additional 450 shares during the period. Finally, Vident Advisory LLC acquired a new stake in shares of First Majestic Silver during the fourth quarter worth $996,000. 27.16% of the stock is owned by institutional investors and hedge funds.

About First Majestic Silver

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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