First Majestic Silver (NYSE:AG) Stock Price Up 5.9% - Here's Why

Key Points

• Shares rose 5.9% to about $31.15 on Thursday after a wave of analyst activity, leaving the stock trading well above the average analyst target of $25 and carrying a market cap near $15.35 billion.
• Quarterly results beat on EPS ($0.30 vs. $0.27 est.) but missed on revenue ($463.9M vs. $561.3M est.), with revenue up 169.2% year‑over‑year.
• First Majestic raised its quarterly dividend to $0.0083 (annualized $0.03, ~0.1% yield) and shows a conservative balance sheet with a debt-to-equity of 0.07 and strong liquidity (current ratio 3.38); institutional ownership is about 27%.

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR's share price shot up 5.9% during trading on Thursday . The company traded as high as $31.20 and last traded at $31.15. 25,504,818 shares were traded during trading, a decline of 10% from the average session volume of 28,186,496 shares. The stock had previously closed at $29.41.

Analyst Upgrades and Downgrades

AG has been the subject of a number of analyst reports. Zacks Research raised shares of First Majestic Silver from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 19th. Weiss Ratings reiterated a "hold (c-)" rating on shares of First Majestic Silver in a report on Wednesday, January 21st. Scotiabank boosted their price target on First Majestic Silver from $12.50 to $23.00 and gave the stock a "sector perform" rating in a research report on Monday, January 26th. BMO Capital Markets reaffirmed a "market perform" rating on shares of First Majestic Silver in a research report on Friday, January 16th. Finally, Cormark raised First Majestic Silver from a "hold" rating to a "moderate buy" rating in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $25.00.

First Majestic Silver Trading Up 5.9%

The firm has a market capitalization of $15.35 billion, a P/E ratio of 89.00 and a beta of 0.85. The company has a quick ratio of 2.96, a current ratio of 3.38 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $21.28 and a 200-day moving average of $15.23.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its earnings results on Thursday, February 19th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. The company had revenue of $463.92 million for the quarter, compared to analyst estimates of $561.30 million. First Majestic Silver had a return on equity of 7.41% and a net margin of 13.12%.First Majestic Silver's quarterly revenue was up 169.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. On average, equities research analysts predict that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a dividend of $0.0083 per share. The ex-dividend date is Friday, February 27th. This represents a $0.03 annualized dividend and a dividend yield of 0.1%. This is a positive change from First Majestic Silver's previous quarterly dividend of $0.01. First Majestic Silver's dividend payout ratio (DPR) is 8.57%.

Institutional Investors Weigh In On First Majestic Silver

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lodestone Wealth Management LLC acquired a new position in shares of First Majestic Silver during the 4th quarter worth $25,000. EFG International AG bought a new position in First Majestic Silver in the fourth quarter valued at about $25,000. Bogart Wealth LLC acquired a new position in First Majestic Silver during the third quarter worth about $28,000. Spire Wealth Management bought a new position in shares of First Majestic Silver in the fourth quarter worth about $35,000. Finally, Sound Income Strategies LLC grew its holdings in shares of First Majestic Silver by 29,900.0% during the 3rd quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company's stock valued at $37,000 after purchasing an additional 2,990 shares during the last quarter. 27.16% of the stock is currently owned by institutional investors.

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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