First Majestic Silver (NYSE:AG) Shares Gap Down to $6.85

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR's share price gapped down prior to trading on Tuesday . The stock had previously closed at $6.85, but opened at $6.56. First Majestic Silver shares last traded at $6.72, with a volume of 2,386,049 shares.

Analyst Ratings Changes

A number of analysts have recently commented on AG shares. HC Wainwright lifted their price target on shares of First Majestic Silver from $7.00 to $8.50 and gave the stock a "buy" rating in a research note on Friday, April 19th. StockNews.com upgraded shares of First Majestic Silver to a "sell" rating in a research report on Monday, February 26th.

First Majestic Silver Stock Performance

The business's 50-day moving average price is $5.99 and its 200-day moving average price is $5.58. The company has a current ratio of 2.57, a quick ratio of 2.04 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.91 billion, a PE ratio of -13.90 and a beta of 1.43.

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

First Majestic Silver Increases Dividend

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

Hedge Funds Weigh In On First Majestic Silver

Several large investors have recently made changes to their positions in AG. Vanguard Group Inc. boosted its position in shares of First Majestic Silver by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,785,103 shares of the mining company's stock valued at $50,198,000 after acquiring an additional 113,236 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of First Majestic Silver by 4.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,985,680 shares of the mining company's stock worth $43,071,000 after purchasing an additional 266,864 shares in the last quarter. Realta Investment Advisors acquired a new stake in shares of First Majestic Silver during the fourth quarter worth about $1,357,000. SG Americas Securities LLC increased its stake in shares of First Majestic Silver by 123.3% during the fourth quarter. SG Americas Securities LLC now owns 173,176 shares of the mining company's stock worth $1,065,000 after buying an additional 95,613 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of First Majestic Silver by 3.8% during the third quarter. Van ECK Associates Corp now owns 29,631,966 shares of the mining company's stock worth $152,012,000 after buying an additional 1,079,150 shares during the period. 27.16% of the stock is currently owned by institutional investors and hedge funds.

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.