First Majestic Silver (TSE:AG) Sets New 12-Month High - Here's Why

First Majestic Silver Corp. (TSE:AG - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$11.94 and last traded at C$10.95, with a volume of 1972818 shares trading hands. The stock had previously closed at C$11.86.

Analyst Upgrades and Downgrades

Separately, National Bank Financial raised shares of First Majestic Silver to a "hold" rating in a report on Thursday, June 12th.

First Majestic Silver Stock Up 7.4%

The company has a fifty day moving average of C$10.03 and a two-hundred day moving average of C$9.05. The stock has a market capitalization of C$4.29 billion, a price-to-earnings ratio of -32.90 and a beta of 1.36.

First Majestic Silver Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 30th were issued a $0.0045 dividend. This represents a $0.02 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date was Friday, May 16th. First Majestic Silver's dividend payout ratio (DPR) is currently -5.19%.

First Majestic Silver Company Profile

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.