First Majestic Silver (NYSE:AG) Shares Gap Up - Should You Buy?

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR gapped up prior to trading on Friday . The stock had previously closed at $6.02, but opened at $6.31. First Majestic Silver shares last traded at $6.33, with a volume of 2,504,516 shares changing hands.

Analyst Ratings Changes

Several analysts have commented on AG shares. National Bankshares reiterated a "sector perform" rating on shares of First Majestic Silver in a research report on Wednesday, April 2nd. Scotiabank reissued 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. TD Securities upgraded First Majestic Silver to a "hold" rating in a research report on Monday, March 10th. HC Wainwright reiterated a "buy" rating and issued a $11.00 price target on shares of First Majestic Silver in a research report on Friday, February 21st. Finally, StockNews.com upgraded shares of First Majestic Silver from a "sell" rating to a "hold" rating in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $8.50.

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 company's fifty day moving average price is $6.07 and its two-hundred day moving average price is $6.18. The company has a market cap of $3.23 billion, a price-to-earnings ratio of -19.09 and a beta of 0.97.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its quarterly earnings results on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $172.34 million for the quarter, compared to the consensus estimate of $227.77 million. First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. On average, equities research analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.0057 per share. The ex-dividend date was Friday, February 28th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.34%. This is a positive change from First Majestic Silver's previous quarterly dividend of $0.00. First Majestic Silver's dividend payout ratio (DPR) is -5.71%.

Institutional Investors Weigh In On First Majestic Silver

Hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC boosted its holdings in First Majestic Silver by 135.2% in the 4th quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company's stock valued at $74,647,000 after purchasing an additional 7,816,177 shares during the period. Vanguard Group Inc. lifted its position in shares of First Majestic Silver by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 11,423,691 shares of the mining company's stock worth $62,784,000 after buying an additional 598,996 shares during the last quarter. Two Sigma Investments LP boosted its stake in First Majestic Silver by 46.8% in the fourth quarter. Two Sigma Investments LP now owns 4,455,923 shares of the mining company's stock valued at $24,463,000 after buying an additional 1,420,937 shares in the last quarter. Renaissance Technologies LLC grew its position in First Majestic Silver by 897.8% in the fourth quarter. Renaissance Technologies LLC now owns 3,759,181 shares of the mining company's stock valued at $20,638,000 after acquiring an additional 3,382,443 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of First Majestic Silver by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,472,159 shares of the mining company's stock worth $19,060,000 after acquiring an additional 121,892 shares during the last quarter. Institutional investors and hedge funds own 27.16% of the company's stock.

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.