First Majestic Silver (NYSE:AG) Trading Down 6.7% - Time to Sell?

Key Points

• First Majestic Silver shares fell 6.7% to about $18.95, with trading volume 81% below the average session volume.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $23.83, despite mixed individual upgrades and downgrades.
• The company beat prior-year results with revenue up 57.3%, but missed quarterly EPS and revenue estimates; it also pays a modest annualized dividend of $0.06, yielding about 0.3%.

Shares of First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR dropped 6.7% during trading on Wednesday . The stock traded as low as $18.93 and last traded at $18.9510. 3,101,611 shares changed hands during trading, a decline of 81% from the average session volume of 16,380,547 shares. The stock had previously closed at $20.32.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Scotiabank dropped their price objective on shares of First Majestic Silver from $23.00 to $22.50 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. HC Wainwright lifted their target price on shares of First Majestic Silver from $26.00 to $27.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Wall Street Zen cut shares of First Majestic Silver from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of First Majestic Silver in a research note on Wednesday, September 2nd. Finally, ATB Cormark Capital Markets upgraded First Majestic Silver from a "hold" rating to a "moderate buy" rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $23.83.

First Majestic Silver Trading Down 6.5%

The company has a market cap of $9.37 billion, a price-to-earnings ratio of 26.77 and a beta of 1.00. The company's 50 day moving average price is $18.76 and its 200 day moving average price is $19.55. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.38 and a current ratio of 2.57.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last issued its quarterly earnings data on Thursday, July 30th. The mining company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.04). First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%.The business had revenue of $415.50 million during the quarter, compared to the consensus estimate of $496.00 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The company's revenue for the quarter was up 57.3% on a year-over-year basis. Research analysts anticipate that First Majestic Silver Corp. will post 0.81 EPS for the current year.

First Majestic Silver Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were paid a $0.0152 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, August 14th. First Majestic Silver's dividend payout ratio (DPR) is presently 8.45%.

Institutional Investors Weigh In On First Majestic Silver

Large investors have recently added to or reduced their stakes in the stock. Harbor Investment Advisory LLC acquired a new stake in shares of First Majestic Silver during the first quarter worth approximately $32,000. PNC Financial Services Group Inc. increased its holdings in First Majestic Silver by 184.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company's stock valued at $32,000 after purchasing an additional 978 shares in the last quarter. Parallel Advisors LLC raised its position in First Majestic Silver by 36.4% in the 1st quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company's stock valued at $45,000 after purchasing an additional 560 shares during the last quarter. Sittner & Nelson LLC bought a new position in First Majestic Silver in the 4th quarter valued at $50,000. Finally, Bard Associates Inc. bought a new stake in shares of First Majestic Silver during the fourth quarter worth $52,000. Institutional investors own 27.16% of the company's stock.

First Majestic Silver Company Profile

First Majestic Silver Corp. is a mining company focused on the exploration, development, and production of silver, gold, lead, and zinc. The company generates revenue primarily by producing and selling metal concentrates, doré bars, and other refined precious-metal products.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically concentrated its operations in Mexico and the United States. Its principal Mexican mining assets have included the San Dimas, Santa Elena, and La Encantada mines, while its U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.