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

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Scotiabank reaffirmed a "sector perform" rating and issued a $6.00 price objective on shares of First Majestic Silver in a research note on Wednesday, April 2nd. HC Wainwright upped their price objective on shares of First Majestic Silver from $11.00 to $11.50 and gave the stock a "buy" rating in a research note on Friday, May 9th. National Bankshares reaffirmed a "sector perform" rating on shares of First Majestic Silver in a research note on Wednesday, April 2nd. TD Securities raised shares of First Majestic Silver to a "hold" rating in a research note on Monday, March 10th. Finally, Wall Street Zen raised shares of First Majestic Silver from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, First Majestic Silver has a consensus rating of "Hold" and a consensus target price of $8.75.

First Majestic Silver Price Performance

The firm has a market capitalization of $4.04 billion, a P/E ratio of -23.81 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 stock's fifty day simple moving average is $6.20 and its 200 day simple moving average is $6.04.

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 analysts' consensus estimates of $0.06 by ($0.01). The firm had revenue of $241.12 million during the quarter, compared to the consensus estimate of $358.65 million. First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. The business's revenue for the quarter was up 41.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. On average, equities research analysts predict that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Announces Dividend

The company also recently announced a dividend, which was paid on Friday, May 30th. Shareholders 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 yield of 0.32%. First Majestic Silver's dividend payout ratio is presently -3.45%.

Hedge Funds Weigh In On First Majestic Silver

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of First Majestic Silver by 26.7% during the first quarter. Vanguard Group Inc. now owns 14,475,305 shares of the mining company's stock valued at $96,768,000 after acquiring an additional 3,051,614 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of First Majestic Silver by 135.2% during the fourth quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company's stock valued at $74,647,000 after acquiring an additional 7,816,177 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of First Majestic Silver by 11.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,845,005 shares of the mining company's stock valued at $52,436,000 after acquiring an additional 820,664 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of First Majestic Silver during the first quarter valued at about $47,656,000. Finally, Jupiter Asset Management Ltd. acquired a new position in First Majestic Silver in the 1st quarter worth approximately $46,070,000. 27.16% of the stock is currently owned by 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.