First Majestic Silver (NYSE:AG) Stock Price Down 5.8% - Here's What Happened

Key Points

• Shares fell 5.8% to about $20.26 on Tuesday, with mid-day volume around 3.92 million shares — roughly an 83% drop from the stock's average daily volume.
• Wall Street sentiment is broadly positive with a consensus rating of “Moderate Buy” and an average price target of $25; notable calls include HC Wainwright’s $30 buy and BMO’s upgrade to outperform.
• Recent fundamentals show a quarterly EPS of $0.30 (beat) and revenue of $463.9M (below estimates but up 169% YoY); market cap is about $9.96B, PE ~57.6, and the company recently raised its quarterly dividend to $0.0083 (annualized $0.03, ~0.2% yield).

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR shares dropped 5.8% on Tuesday . The company traded as low as $20.49 and last traded at $20.2630. Approximately 3,919,269 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 23,668,873 shares. The stock had previously closed at $21.52.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AG. HC Wainwright increased their price target on shares of First Majestic Silver to $30.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Zacks Research cut shares of First Majestic Silver from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. BMO Capital Markets upgraded shares of First Majestic Silver from a "market perform" rating to an "outperform" rating in a research report on Tuesday, March 24th. Weiss Ratings reiterated a "hold (c-)" rating on shares of First Majestic Silver in a research report on Wednesday, January 21st. Finally, Scotiabank increased their price target on shares of First Majestic Silver from $12.50 to $23.00 and gave the company a "sector perform" rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.00.

First Majestic Silver Stock Performance

The stock has a market cap of $9.96 billion, a PE ratio of 57.64 and a beta of 0.97. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.60 and a quick ratio of 2.41. The business has a 50 day moving average price of $23.38 and a two-hundred day moving average price of $18.73.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its quarterly earnings data on Thursday, February 19th. The mining company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.03. The firm had revenue of $463.92 million during the quarter, compared to analyst estimates of $561.30 million. First Majestic Silver had a return on equity of 7.25% and a net margin of 13.12%.The business's quarterly revenue was up 169.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 earnings per share. As a group, equities research analysts forecast that First Majestic Silver Corp. will post 0.7 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were paid a dividend of $0.0083 per share. This represents a $0.03 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from First Majestic Silver's previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Friday, February 27th. First Majestic Silver's payout ratio is currently 8.57%.

Institutional Trading of First Majestic Silver

A number of institutional investors have recently made changes to their positions in the stock. Lodestone Wealth Management LLC purchased a new stake in First Majestic Silver in the fourth quarter worth $25,000. EFG International AG purchased a new stake in First Majestic Silver in the fourth quarter worth $25,000. Bogart Wealth LLC purchased a new stake in First Majestic Silver in the third quarter worth $28,000. Spire Wealth Management purchased a new stake in First Majestic Silver in the fourth quarter worth $35,000. Finally, Sound Income Strategies LLC lifted its stake in First Majestic Silver by 29,900.0% in the third quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company's stock worth $37,000 after acquiring an additional 2,990 shares during the period. Hedge funds and other institutional investors own 27.16% of the company's stock.

First Majestic Silver Company Profile

First Majestic Silver Corp. NYSE: AG engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.

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