First Majestic Silver's (AG) Buy Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright has reiterated a "buy" rating for First Majestic Silver with a price target of $12.75, indicating a potential upside of 43.82% from the stock's previous close.
• First Majestic Silver reported $0.04 earnings per share for the last quarter, falling short of analysts' expectations, with a year-over-year revenue increase of 94.0%.
• Institutional investors now own 27.16% of First Majestic Silver's stock, reflecting ongoing interest from large financial players in the company.

HC Wainwright reissued their buy rating on shares of First Majestic Silver (NYSE:AG - Free Report) TSE: FR in a research report report published on Friday morning,Benzinga reports. HC Wainwright currently has a $12.75 target price on the mining company's stock.

Other equities research analysts also recently issued research reports about the stock. Scotiabank lifted their target price on shares of First Majestic Silver from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research report on Wednesday, July 9th. National Bank Financial raised shares of First Majestic Silver to a "hold" rating in a research report on Thursday, June 12th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $9.63.

First Majestic Silver Stock Down 5.1%

Shares of AG traded down $0.4450 on Friday, hitting $8.3550. 14,569,631 shares of the stock traded hands, compared to its average volume of 20,932,293. The company has a market capitalization of $4.07 billion, a PE ratio of -834.67 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.74 and a current ratio of 3.19. The business has a 50 day simple moving average of $8.48 and a 200 day simple moving average of $6.97. First Majestic Silver has a one year low of $4.59 and a one year high of $9.48.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last announced its quarterly earnings results on Thursday, August 14th. The mining company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $264.20 million for the quarter, compared to the consensus estimate of $387.25 million. First Majestic Silver had a net margin of 1.78% and a return on equity of 1.96%. First Majestic Silver's revenue was up 94.0% on a year-over-year basis. During the same period last year, the business earned ($0.07) EPS. As a group, equities analysts forecast that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a dividend of $0.0048 per share. This represents a $0.02 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, August 29th. First Majestic Silver's dividend payout ratio is presently -200.00%.

Hedge Funds Weigh In On First Majestic Silver

Hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in First Majestic Silver by 1,221.6% in the 1st quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company's stock worth $25,000 after acquiring an additional 3,506 shares in the last quarter. AlphaQuest LLC acquired a new stake in First Majestic Silver in the first quarter valued at approximately $29,000. CWM LLC boosted its stake in First Majestic Silver by 57.2% in the second quarter. CWM LLC now owns 5,114 shares of the mining company's stock valued at $42,000 after acquiring an additional 1,860 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in First Majestic Silver in the first quarter valued at approximately $46,000. Finally, Captrust Financial Advisors acquired a new stake in First Majestic Silver in the fourth quarter valued at approximately $58,000. 27.16% of the stock is currently 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.