First Majestic Silver (NYSE:AG) Trading Up 5.8% - Still a Buy?

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR's stock price was up 5.8% during mid-day trading on Wednesday . The stock traded as high as $6.49 and last traded at $6.53. Approximately 3,437,583 shares traded hands during trading, a decline of 74% from the average daily volume of 13,063,882 shares. The stock had previously closed at $6.17.

Wall Street Analysts Forecast Growth

AG has been the topic of several recent research reports. Scotiabank reaffirmed a "sector perform" rating and set a $6.00 target price on shares of First Majestic Silver in a report on Wednesday, April 2nd. TD Securities upgraded First Majestic Silver to a "hold" rating in a research report on Monday, March 10th. HC Wainwright upped their target price on First Majestic Silver from $11.00 to $11.50 and gave the company a "buy" rating in a report on Friday, May 9th. National Bankshares reissued a "sector perform" rating on shares of First Majestic Silver in a research report on Wednesday, April 2nd. Finally, Wall Street Zen upgraded shares of First Majestic Silver from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $8.75.

First Majestic Silver Stock Performance

The stock has a market capitalization of $2.99 billion, a P/E ratio of -17.66 and a beta of 0.81. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $6.12 and a two-hundred day moving average price of $6.00.

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 EPS for the quarter, missing the consensus estimate 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 company had revenue of $241.12 million for the quarter, compared to analyst estimates of $358.65 million. During the same period last year, the business earned ($0.05) EPS. The business's quarterly revenue was up 41.6% compared to the same quarter last year. On average, equities analysts forecast that First Majestic Silver Corp. will post 0.54 earnings per share for the current year.

First Majestic Silver Dividend Announcement

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

Institutional Trading of First Majestic Silver

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in First Majestic Silver by 26.7% in the first quarter. Vanguard Group Inc. now owns 14,475,305 shares of the mining company's stock worth $96,768,000 after acquiring an additional 3,051,614 shares in the last quarter. Tidal Investments LLC raised its position 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 worth $74,647,000 after purchasing an additional 7,816,177 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of First Majestic Silver by 11.7% in 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 purchasing an additional 820,664 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in First Majestic Silver in the 1st quarter valued at $47,656,000. Finally, Jupiter Asset Management Ltd. bought a new stake in First Majestic Silver during the 1st quarter valued at $46,070,000. 27.16% of the stock is owned by institutional investors.

About First Majestic Silver

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.