First Majestic Silver (NYSE:AG) Stock Price Down 8.6% - Time to Sell?

Key Points

• First Majestic Silver's share price fell by 8.6% to around $14.01 during mid-day trading, significantly below its previous closing price of $15.33.
• Analysts have mixed ratings on the stock, with one upgrade to "strong-buy" from National Bank Financial and a consensus rating of "Moderate Buy" with a target price of $15.33.
• The company also recently declared a dividend of $0.0048 per share, with a negative dividend payout ratio of -200.00% reflecting its current financial challenges.

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR's share price was down 8.6% during mid-day trading on Friday . The stock traded as low as $13.93 and last traded at $14.01. Approximately 16,331,004 shares were traded during trading, a decline of 24% from the average daily volume of 21,471,672 shares. The stock had previously closed at $15.33.

Analyst Upgrades and Downgrades

AG has been the subject of a number of research reports. National Bank Financial upgraded First Majestic Silver from a "hold" rating to a "strong-buy" rating in a research report on Sunday, October 5th. Wall Street Zen raised First Majestic Silver from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. BMO Capital Markets reissued a "market perform" rating on shares of First Majestic Silver in a report on Tuesday, October 7th. National Bankshares set a $22.00 price objective on First Majestic Silver and gave the stock an "outperform" rating in a research report on Monday, October 6th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of First Majestic Silver in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, First Majestic Silver currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.33.

First Majestic Silver Stock Performance

The company has a market capitalization of $6.83 billion, a PE ratio of -1,388.11 and a beta of 0.76. The company has a quick ratio of 2.84, a current ratio of 3.27 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $10.67 and a two-hundred day moving average price of $8.42.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its earnings results on Thursday, August 14th. The mining company reported $0.04 EPS 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 business had revenue of $264.20 million for the quarter, compared to analysts' expectations of $387.25 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. First Majestic Silver's quarterly revenue was up 94.0% compared to the same quarter last year. Analysts predict that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $0.0048 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.02 dividend on an annualized basis and a yield of 0.1%. First Majestic Silver's dividend payout ratio is presently -200.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AG. AdvisorNet Financial Inc grew its holdings in First Majestic Silver by 33.2% in the third quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company's stock worth $48,000 after purchasing an additional 971 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in First Majestic Silver by 6.1% in the second quarter. SBI Securities Co. Ltd. now owns 22,357 shares of the mining company's stock worth $185,000 after purchasing an additional 1,282 shares during the last quarter. Harbour Investments Inc. grew its holdings in shares of First Majestic Silver by 7.3% during the second quarter. Harbour Investments Inc. now owns 23,696 shares of the mining company's stock valued at $196,000 after buying an additional 1,620 shares during the last quarter. CWM LLC grew its holdings in shares of First Majestic Silver by 57.2% during the second quarter. CWM LLC now owns 5,114 shares of the mining company's stock valued at $42,000 after buying an additional 1,860 shares during the last quarter. Finally, Rathbones Group PLC grew its holdings in shares of First Majestic Silver by 3.3% during the first quarter. Rathbones Group PLC now owns 58,732 shares of the mining company's stock valued at $393,000 after buying an additional 1,880 shares during the last quarter. Institutional investors 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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