First Majestic Silver (NYSE:AG) Shares Up 5.2% - Here's Why

Key Points

• First Majestic Silver shares rose by 5.2% to $10.46, although trading volume decreased by 65% compared to the average.
• The company's recent quarterly earnings report revealed an EPS of $0.04, missing estimates and showing significant year-over-year revenue growth.
• Analysts have mixed ratings on the stock, with one buy rating and four hold ratings, while the consensus target price is $9.63.

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR's stock price rose 5.2% during trading on Friday . The company traded as high as $10.46 and last traded at $10.46. Approximately 7,271,109 shares traded hands during trading, a decline of 65% from the average daily volume of 20,831,965 shares. The stock had previously closed at $9.94.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AG. National Bank Financial raised First Majestic Silver to a "hold" rating in a research note on Thursday, June 12th. HC Wainwright restated a "buy" rating and set a $12.75 target price on shares of First Majestic Silver in a report on Friday, August 15th. Finally, Scotiabank increased their price target on First Majestic Silver from $6.00 to $6.50 and gave the company a "sector perform" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $9.63.

First Majestic Silver Stock Performance

The stock's 50-day moving average price is $9.06 and its 200-day moving average price is $7.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.27 and a quick ratio of 2.84. The company has a market cap of $5.94 billion, a P/E ratio of 118.00 and a beta of 0.78.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly earnings data on Thursday, August 14th. The mining company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). First Majestic Silver had a return on equity of 1.72% and a net margin of 1.78%.The firm had revenue of $264.20 million for the quarter, compared to the consensus estimate of $387.25 million. During the same period in the prior year, the company earned ($0.07) EPS. The company's revenue for the quarter was up 94.0% compared to the same quarter last year. Equities analysts anticipate that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.0048 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.2%. First Majestic Silver's dividend payout ratio is -200.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AG. Municipal Employees Retirement System of Michigan acquired a new stake in shares of First Majestic Silver during the 1st quarter worth approximately $47,656,000. Jupiter Asset Management Ltd. bought a new stake in First Majestic Silver in the 1st quarter worth approximately $46,070,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in First Majestic Silver by 74.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,666,756 shares of the mining company's stock worth $112,880,000 after buying an additional 5,821,751 shares during the last quarter. Sprott Inc. lifted its position in First Majestic Silver by 603.8% in the 1st quarter. Sprott Inc. now owns 4,612,904 shares of the mining company's stock worth $30,856,000 after buying an additional 3,957,459 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in First Majestic Silver by 26.7% in the first quarter. Vanguard Group Inc. now owns 14,475,305 shares of the mining company's stock valued at $96,768,000 after purchasing an additional 3,051,614 shares during the last quarter. Institutional investors and hedge funds 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.