First Majestic Silver (NYSE:AG) Shares Gap Down to $6.73

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR shares gapped down before the market opened on Monday . The stock had previously closed at $6.73, but opened at $6.27. First Majestic Silver shares last traded at $6.66, with a volume of 4,650,866 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AG. StockNews.com raised First Majestic Silver to a "sell" rating in a report on Monday, February 26th. HC Wainwright raised their price target on First Majestic Silver from $7.00 to $8.50 and gave the company a "buy" rating in a report on Friday.

First Majestic Silver Trading Down 2.7 %

The firm has a fifty day simple moving average of $5.75 and a two-hundred day simple moving average of $5.51. The stock has a market cap of $1.88 billion, a PE ratio of -13.65 and a beta of 1.43. The company has a current ratio of 2.57, a quick ratio of 2.04 and a debt-to-equity ratio of 0.18.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its quarterly earnings results on Thursday, February 22nd. The mining company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. The firm had revenue of $136.95 million for the quarter. First Majestic Silver had a negative return on equity of 1.85% and a negative net margin of 23.55%. During the same period in the previous year, the business earned ($0.07) EPS. As a group, equities analysts expect that First Majestic Silver Corp. will post -0.06 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.0048 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.29%. This is a boost from First Majestic Silver's previous quarterly dividend of $0.00. The ex-dividend date was Wednesday, March 13th. First Majestic Silver's dividend payout ratio (DPR) is currently -4.17%.

Hedge Funds Weigh In On First Majestic Silver

Large investors have recently modified their holdings of the company. CWM LLC raised its holdings in shares of First Majestic Silver by 59.7% during the 3rd quarter. CWM LLC now owns 5,433 shares of the mining company's stock valued at $28,000 after buying an additional 2,030 shares in the last quarter. Creekmur Asset Management LLC bought a new position in First Majestic Silver during the 4th quarter worth approximately $43,000. Dixon Mitchell Investment Counsel Inc. bought a new position in First Majestic Silver during the 1st quarter worth approximately $48,000. Capstone Investment Advisors LLC bought a new position in First Majestic Silver during the 4th quarter worth approximately $69,000. Finally, Kingswood Wealth Advisors LLC bought a new position in First Majestic Silver during the 3rd quarter worth approximately $77,000. 27.16% of the stock is owned by hedge funds and other 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.