First Majestic Silver (NYSE:AG) Share Price Passes Above 200-Day Moving Average - Time to Sell?

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR's stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.26 and traded as high as $8.29. First Majestic Silver shares last traded at $8.27, with a volume of 29,000,776 shares changing hands.

Wall Street Analyst Weigh In

AG has been the subject of several recent analyst reports. National Bank Financial raised shares of First Majestic Silver to a "hold" rating in a research note on Thursday, June 12th. HC Wainwright raised 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 report on Monday, March 10th. Scotiabank reissued a "sector perform" rating and issued a $6.00 price objective on shares of First Majestic Silver in a research report on Wednesday, April 2nd. Finally, National Bankshares restated a "sector perform" rating on shares of First Majestic Silver in a research report on Wednesday, April 2nd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $8.75.

First Majestic Silver Price Performance

The stock's 50 day moving average price is $6.88 and its 200-day moving average price is $6.26. 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 stock has a market capitalization of $4.06 billion, a PE ratio of -28.86 and a beta of 0.74.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its quarterly earnings data on Wednesday, May 7th. The mining company reported $0.05 earnings per share 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 the consensus estimate of $358.65 million. First Majestic Silver had a negative net margin of 12.32% and a negative return on equity of 0.14%. The company's quarterly revenue was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) EPS. As a group, equities analysts forecast that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AG. Vanguard Group Inc. lifted its holdings in shares of First Majestic Silver by 26.7% in the 1st quarter. Vanguard Group Inc. now owns 14,475,305 shares of the mining company's stock worth $96,768,000 after buying an additional 3,051,614 shares during the period. Tidal Investments LLC lifted its stake in First Majestic Silver by 135.2% in the fourth quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company's stock worth $74,647,000 after acquiring an additional 7,816,177 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in First Majestic Silver by 11.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,845,005 shares of the mining company's stock worth $52,436,000 after acquiring an additional 820,664 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new position in First Majestic Silver during the 1st quarter worth about $47,656,000. Finally, Jupiter Asset Management Ltd. purchased a new position in First Majestic Silver during the 1st quarter valued at about $46,070,000. 27.16% of the stock is currently owned by hedge funds and other 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.