First Majestic Silver (NYSE:AG) Shares Gap Up - Time to Buy?

Shares of First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR gapped up prior to trading on Tuesday . The stock had previously closed at $8.27, but opened at $8.49. First Majestic Silver shares last traded at $8.38, with a volume of 2,570,615 shares trading hands.

Wall Street Analyst Weigh In

AG has been the subject of a number of analyst reports. National Bankshares reissued a "sector perform" rating on shares of First Majestic Silver in a report on Wednesday, April 2nd. HC Wainwright lifted their target price on First Majestic Silver from $11.00 to $11.50 and gave the stock a "buy" rating in a research report on Friday, May 9th. TD Securities raised First Majestic Silver to a "hold" rating in a research report on Monday, March 10th. Wall Street Zen raised shares of First Majestic Silver from a "sell" rating to a "hold" rating in a report on Friday, February 21st. Finally, Scotiabank reiterated a "sector perform" rating and set a $6.00 target price on shares of First Majestic Silver in a research note on Wednesday, April 2nd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $8.75.

First Majestic Silver Stock Down 3.0%

The business's 50 day simple moving average is $6.65 and its 200-day simple moving average is $6.17. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.74 and a current ratio of 3.19.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly earnings data on Wednesday, May 7th. The mining company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The company had revenue of $241.12 million for the quarter, compared to analyst estimates of $358.65 million. First Majestic Silver had a negative net margin of 12.32% and a negative return on equity of 0.14%. First Majestic Silver's revenue was up 41.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS. Equities analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Dividend Announcement

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

Hedge Funds Weigh In On First Majestic Silver

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC raised its stake in First Majestic Silver by 1,221.6% during the 1st quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company's stock valued at $25,000 after purchasing an additional 3,506 shares during the period. Allworth Financial LP boosted its position in First Majestic Silver by 805.4% during the fourth quarter. Allworth Financial LP now owns 5,161 shares of the mining company's stock worth $29,000 after purchasing an additional 4,591 shares during the period. AlphaQuest LLC bought a new stake in shares of First Majestic Silver during the 1st quarter worth $29,000. Banque Cantonale Vaudoise bought a new stake in shares of First Majestic Silver during the 1st quarter worth $46,000. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new position in First Majestic Silver in the 4th quarter valued at $55,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

About First Majestic Silver

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.