First Majestic Silver (NYSE:AG) Shares Down 5.5% - Here's What Happened

Shares of First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR traded down 5.5% on Tuesday . The company traded as low as $8.42 and last traded at $8.22. 2,194,741 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 15,440,869 shares. The stock had previously closed at $8.69.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. TD Securities upgraded First Majestic Silver to a "hold" rating in a report on Monday, March 10th. National Bank Financial upgraded shares of First Majestic Silver to a "hold" rating in a research note on Thursday, June 12th. HC Wainwright lifted their price target on shares of First Majestic Silver from $11.00 to $11.50 and gave the company a "buy" rating in a research note on Friday, May 9th. Scotiabank reaffirmed a "sector perform" rating and issued a $6.00 price target on shares of First Majestic Silver in a research note on Wednesday, April 2nd. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of First Majestic Silver in a research note on Wednesday, April 2nd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $8.75.

First Majestic Silver Price Performance

The company has a fifty day moving average of $7.11 and a 200-day moving average of $6.36. The firm has a market cap of $3.88 billion, a P/E ratio of -27.59 and a beta of 0.82. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.19 and a quick ratio of 2.74.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its earnings results on Wednesday, May 7th. The mining company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). First Majestic Silver had a negative return on equity of 0.14% and a negative net margin of 12.32%. The firm had revenue of $241.12 million during the quarter, compared to the consensus estimate of $358.65 million. During the same quarter in the previous year, the company earned ($0.05) EPS. The business's revenue was up 41.6% compared to the same quarter last year. On average, sell-side analysts anticipate that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were issued a $0.0045 dividend. This represents a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, May 16th. First Majestic Silver's dividend payout ratio is presently -6.90%.

Hedge Funds Weigh In On First Majestic Silver

Several institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its position in First Majestic Silver by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 565,982 shares of the mining company's stock worth $3,109,000 after buying an additional 18,219 shares during the last quarter. Aigen Investment Management LP purchased a new stake in First Majestic Silver in the fourth quarter worth $161,000. Raymond James Financial Inc. purchased a new stake in First Majestic Silver in the fourth quarter worth $2,442,000. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in First Majestic Silver in the fourth quarter worth $55,000. Finally, Moors & Cabot Inc. increased its position in First Majestic Silver by 19.6% in the fourth quarter. Moors & Cabot Inc. now owns 17,100 shares of the mining company's stock worth $94,000 after buying an additional 2,800 shares during the last quarter. 27.16% of the stock is 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.