Investors Purchase High Volume of First Majestic Silver Call Options (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG - Get Free Report) TSE: FR was the recipient of unusually large options trading on Monday. Investors purchased 39,607 call options on the company. This is an increase of approximately 81% compared to the typical volume of 21,895 call options.

First Majestic Silver Stock Performance

Shares of NYSE:AG traded up $1.12 during midday trading on Thursday, hitting $8.40. The company's stock had a trading volume of 58,487,558 shares, compared to its average volume of 13,836,163. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of -23.99 and a beta of 0.81. The stock's 50 day simple moving average is $6.13 and its 200 day simple moving average is $6.02. First Majestic Silver has a fifty-two week low of $4.43 and a fifty-two week high of $8.51. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.12 and a current ratio of 2.56.

First Majestic Silver (NYSE:AG - Get Free Report) TSE: FR last released its earnings results on Wednesday, May 7th. The mining company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. The firm had revenue of $241.12 million for the quarter, compared to analyst estimates of $358.65 million. During the same period last year, the business earned ($0.05) earnings per share. The firm's quarterly revenue was up 41.6% compared to the same quarter last year. As a group, research analysts anticipate that First Majestic Silver will post 0.54 earnings per share for the current year.

First Majestic Silver Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were issued a dividend of $0.0045 per share. This represents a yield of 0.32%. The ex-dividend date of this dividend was Friday, May 16th. First Majestic Silver's payout ratio is -3.45%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AG shares. Scotiabank reiterated a "sector perform" rating and set a $6.00 price target on shares of First Majestic Silver in a report on Wednesday, April 2nd. TD Securities upgraded First Majestic Silver to a "hold" rating in a report on Monday, March 10th. National Bankshares reiterated a "sector perform" rating on shares of First Majestic Silver in a report on Wednesday, April 2nd. HC Wainwright increased their price target on First Majestic Silver from $11.00 to $11.50 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Wall Street Zen raised First Majestic Silver from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, First Majestic Silver presently has an average rating of "Hold" and a consensus price target of $8.75.

Institutional Investors Weigh In On First Majestic Silver

A number of institutional investors have recently added to or reduced their stakes in AG. Tidal Investments LLC boosted its holdings in First Majestic Silver by 135.2% during the fourth quarter. Tidal Investments LLC now owns 13,596,866 shares of the mining company's stock valued at $74,647,000 after purchasing an additional 7,816,177 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new position in First Majestic Silver in the 1st quarter worth approximately $47,656,000. Jupiter Asset Management Ltd. bought a new position in First Majestic Silver in the 1st quarter worth approximately $46,070,000. Sprott Inc. raised its position in First Majestic Silver by 603.8% in the 1st quarter. Sprott Inc. now owns 4,612,904 shares of the mining company's stock worth $30,856,000 after purchasing an additional 3,957,459 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in First Majestic Silver by 897.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,759,181 shares of the mining company's stock worth $20,638,000 after purchasing an additional 3,382,443 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.