First Majestic Silver (NYSE:AG) Stock Price Down 3.5% - What's Next?

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR's stock price dropped 3.5% on Friday . The stock traded as low as $8.11 and last traded at $8.12. Approximately 28,734,349 shares traded hands during mid-day trading, an increase of 107% from the average daily volume of 13,899,069 shares. The stock had previously closed at $8.41.

Analyst Upgrades and Downgrades

AG has been the subject of several recent analyst reports. Scotiabank restated 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. HC Wainwright boosted their price objective 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. National Bankshares restated a "sector perform" rating on shares of First Majestic Silver in a research report on Wednesday, April 2nd. TD Securities raised First Majestic Silver to a "hold" rating in a research note on Monday, March 10th. Finally, Wall Street Zen raised First Majestic Silver from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Four equities research 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 stock has a consensus rating of "Hold" and an average price target of $8.75.

First Majestic Silver Stock Performance

The stock has a market cap of $3.99 billion, a P/E ratio of -23.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 2.12. The company has a fifty day moving average of $6.16 and a 200 day moving average of $6.03.

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). First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. The firm had revenue of $241.12 million during the quarter, compared to the consensus estimate of $358.65 million. During the same period in the prior year, the firm posted ($0.05) EPS. The firm's quarterly revenue was up 41.6% on a year-over-year basis. On average, equities analysts predict that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were paid a dividend of $0.0045 per share. This represents a yield of 0.32%. The ex-dividend date of this dividend was Friday, May 16th. First Majestic Silver's dividend payout ratio is presently -3.45%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AG. Barclays PLC bought a new stake in shares of First Majestic Silver during the 3rd quarter worth $2,419,000. Realta Investment Advisors boosted its position in shares of First Majestic Silver by 16.8% in the 4th quarter. Realta Investment Advisors now owns 497,726 shares of the mining company's stock valued at $2,882,000 after purchasing an additional 71,456 shares during the period. Principal Securities Inc. increased its stake in First Majestic Silver by 30.3% in the 4th quarter. Principal Securities Inc. now owns 21,500 shares of the mining company's stock worth $118,000 after purchasing an additional 5,000 shares in the last quarter. Allworth Financial LP raised its holdings 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 buying an additional 4,591 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in First Majestic Silver by 0.6% during the 4th quarter. CIBC Asset Management Inc now owns 370,255 shares of the mining company's stock worth $2,030,000 after buying an additional 2,288 shares during the period. 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.

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