First Majestic Silver (NYSE:AG) Shares Gap Up to $6.70

Shares of First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR gapped up prior to trading on Monday . The stock had previously closed at $6.70, but opened at $6.93. First Majestic Silver shares last traded at $7.00, with a volume of 1,938,340 shares traded.

Analysts Set New Price Targets

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

First Majestic Silver Trading Up 6.1 %

The company has a quick ratio of 2.04, a current ratio of 2.57 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.04 billion, a P/E ratio of -14.81 and a beta of 1.39. The firm's 50-day simple moving average is $6.22 and its 200 day simple moving average is $5.62.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last posted its quarterly 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 for the quarter. During the same period last year, the firm posted ($0.07) EPS. As a group, analysts expect that First Majestic Silver Corp. will post -0.01 earnings per share for the current year.

First Majestic Silver Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.0048 per share. This is an increase from First Majestic Silver's previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.02 annualized dividend and a dividend yield of 0.27%. First Majestic Silver's dividend payout ratio is presently -4.17%.

Institutional Trading of First Majestic Silver

Institutional investors have recently modified their holdings of the business. Van ECK Associates Corp increased its position in shares of First Majestic Silver by 5.1% during the first quarter. Van ECK Associates Corp now owns 31,876,555 shares of the mining company's stock valued at $187,433,000 after buying an additional 1,534,710 shares during the period. Vanguard Group Inc. increased its holdings in 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 worth $50,198,000 after acquiring an additional 113,236 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in First Majestic Silver by 4.0% in the 4th 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. Sprott Inc. boosted its holdings in First Majestic Silver by 0.5% in the 4th quarter. Sprott Inc. now owns 787,862 shares of the mining company's stock valued at $4,838,000 after purchasing an additional 4,257 shares during the period. Finally, TD Asset Management Inc grew its position in shares of First Majestic Silver by 2.0% during the 4th quarter. TD Asset Management Inc now owns 757,732 shares of the mining company's stock valued at $4,672,000 after purchasing an additional 14,848 shares in the last quarter. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

About First Majestic Silver

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.