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

Shares of First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR gapped up before the market opened 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 changing hands.

Analysts Set New Price Targets

A number of analysts have issued reports on AG shares. National Bank Financial raised First Majestic Silver to a "hold" rating in a research note on Thursday, June 12th. HC Wainwright increased their target price on shares of First Majestic Silver from $11.00 to $11.50 and gave the stock a "buy" rating in a report on Friday, May 9th. TD Securities upgraded shares of First Majestic Silver to a "hold" rating in a research note on Monday, March 10th. Scotiabank reaffirmed a "sector perform" rating and issued a $6.00 target price on shares of First Majestic Silver in a research report on Wednesday, April 2nd. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of First Majestic Silver in a research report on Wednesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $8.75.

First Majestic Silver Trading Up 2.0%

The business has a fifty day moving average price of $6.50 and a 200-day moving average price of $6.13. 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 has a market cap of $4.09 billion, a P/E ratio of -24.04 and a beta of 0.74.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its earnings results on Wednesday, May 7th. The mining company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $241.12 million for the quarter, compared to the consensus estimate of $358.65 million. First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. The firm's revenue for the quarter was up 41.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.05) EPS. On average, analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were given a $0.0045 dividend. 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 presently -3.45%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in shares of 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 buying an additional 3,506 shares during the last quarter. Allworth Financial LP boosted its stake in First Majestic Silver by 805.4% during the 4th quarter. Allworth Financial LP now owns 5,161 shares of the mining company's stock worth $29,000 after acquiring an additional 4,591 shares during the last quarter. AlphaQuest LLC acquired a new stake in shares of First Majestic Silver during the first quarter worth about $29,000. Banque Cantonale Vaudoise bought a new position in First Majestic Silver during the first quarter worth about $46,000. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of First Majestic Silver in the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 27.16% of the company's stock.

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.

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