First Majestic Silver (NYSE:AG) Shares Gap Down - What's Next?

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR gapped down before the market opened on Friday . The stock had previously closed at $8.38, but opened at $8.00. First Majestic Silver shares last traded at $8.04, with a volume of 3,803,354 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AG. National Bankshares reaffirmed a "sector perform" rating on shares of First Majestic Silver in a research note on Wednesday, April 2nd. HC Wainwright increased their target price 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 Bank Financial upgraded First Majestic Silver to a "hold" rating in a research report on Thursday, June 12th. Scotiabank reaffirmed a "sector perform" rating and issued a $6.00 target price on shares of First Majestic Silver in a research note on Wednesday, April 2nd. Finally, TD Securities raised First Majestic Silver to a "hold" rating in a research report on Monday, March 10th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $8.75.

First Majestic Silver Stock Down 4.4%

The company's fifty day simple moving average is $6.81 and its 200 day simple moving average is $6.24. The company has a quick ratio of 2.74, a current ratio of 3.19 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $3.88 billion, a PE ratio of -27.64 and a beta of 0.74.

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

First Majestic Silver Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were paid a dividend of $0.0045 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a yield of 0.32%. First Majestic Silver's dividend payout ratio is currently -6.90%.

Hedge Funds Weigh In On First Majestic Silver

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AG. Allworth Financial LP boosted its position in shares of First Majestic Silver by 805.4% during the fourth quarter. Allworth Financial LP now owns 5,161 shares of the mining company's stock valued at $29,000 after buying an additional 4,591 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in First Majestic Silver by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 565,982 shares of the mining company's stock valued at $3,109,000 after acquiring an additional 18,219 shares during the period. Aigen Investment Management LP purchased a new stake in shares of First Majestic Silver during the 4th quarter valued at about $161,000. Raymond James Financial Inc. bought a new stake in shares of First Majestic Silver in the fourth quarter worth approximately $2,442,000. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of First Majestic Silver during the fourth quarter valued at approximately $55,000. 27.16% of the stock is owned by institutional investors.

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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