First Majestic Silver (NYSE:AG) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reiterated their buy rating on shares of First Majestic Silver (NYSE:AG - Free Report) TSE: FR in a research report report published on Thursday, Benzinga reports. The brokerage currently has a $8.50 price objective on the mining company's stock.

Separately, StockNews.com upgraded First Majestic Silver to a sell rating in a research note on Monday, February 26th.

First Majestic Silver Trading Up 5.2 %

Shares of NYSE AG traded up $0.37 during mid-day trading on Thursday, hitting $7.48. 11,467,253 shares of the company traded hands, compared to its average volume of 8,690,872. The business has a 50 day moving average of $6.32 and a two-hundred day moving average of $5.64. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -15.58 and a beta of 1.39. The company has a quick ratio of 2.04, a current ratio of 2.57 and a debt-to-equity ratio of 0.18. First Majestic Silver has a 1 year low of $4.17 and a 1 year high of $8.44.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its earnings results on Thursday, February 22nd. The mining company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.01. The company 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 quarter in the prior year, the company earned ($0.07) EPS. On average, sell-side analysts anticipate that First Majestic Silver will post -0.01 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.004 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.21%. First Majestic Silver's dividend payout ratio is currently -2.08%.

Hedge Funds Weigh In On First Majestic Silver

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings 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 worth $50,198,000 after purchasing an additional 113,236 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted 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 valued at $43,071,000 after buying an additional 266,864 shares in the last quarter. Realta Investment Advisors bought a new stake in First Majestic Silver in the fourth quarter valued at $1,357,000. SG Americas Securities LLC boosted its position in First Majestic Silver by 123.3% in the fourth quarter. SG Americas Securities LLC now owns 173,176 shares of the mining company's stock valued at $1,065,000 after buying an additional 95,613 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of First Majestic Silver by 2.4% in the fourth quarter. Van ECK Associates Corp now owns 30,341,845 shares of the mining company's stock valued at $186,600,000 after acquiring an additional 709,879 shares during the last quarter. 27.16% of the stock is owned by institutional investors and hedge funds.

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.