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. It holds 100% interests in the San Dimas Silver/Gold Mine covering an area of 71,868 hectares located in Durango and Sinaloa states; the Santa Elena Silver/Gold Mine covering an area of 102,244 hectares located in Sonora; Jerritt Canyon gold mine that covers an area of approximately of 30,821 hectares located in Elko County, Nevada; and the La Encantada Silver Mine covering an area of 4,076 hectares situated in Coahuila, as well as surface land ownership of 1,343 hectares. The company also holds 100% interests in the La Parrilla Silver Mine that covers an area of 69,478 hectares located in Durango; the Del Toro Silver Mine consisting of 3,815 hectares of mining concessions and 219 hectares of surface rights located in Zacatecas; the San Martin Silver Mine includes 33 mining concessions covering an area of 12,795 hectares located in Jalisco; and the La Guitarra Silver Mine that covers an area of 39,714 hectares located in Mexico. In addition, it holds interest in the Springpole project, a gold and silver project covering an area of approximately 41,913 hectares in Ontario, Canada. The company was formerly known as First Majestic Resource Corp. and changed its name to First Majestic Silver Corp. in November 2006. First Majestic Silver Corp. was incorporated in 1979 and is headquartered in Vancouver, Canada.
Wall Street Analysts Forecast Growth
AG has been the subject of a number of analyst reports. TheStreet cut First Majestic Silver from a "c" rating to a "d+" rating in a research report on Friday, April 22nd. HC Wainwright reduced their price target on First Majestic Silver from $19.50 to $12.50 and set a "buy" rating for the company in a research report on Monday, July 25th. TD Securities reduced their price target on First Majestic Silver from C$20.00 to C$12.00 in a research report on Friday, May 13th. BMO Capital Markets reduced their price target on First Majestic Silver from C$10.00 to C$9.50 in a research report on Monday, July 25th. Finally, National Bank Financial reduced their price target on First Majestic Silver from C$18.00 to C$11.75 in a research report on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $11.44.
First Majestic Silver Price Performance
Shares of NYSE:AG traded down $0.04 during trading on Tuesday, hitting $8.09. 3,296,846 shares of the company's stock were exchanged, compared to its average volume of 6,110,642. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.46 and a quick ratio of 1.98. First Majestic Silver has a 52-week low of $6.31 and a 52-week high of $14.67. The business's 50-day simple moving average is $7.60 and its 200 day simple moving average is $9.99. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -21.29 and a beta of 1.02.
First Majestic Silver Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Tuesday, August 16th will be given a dividend of $0.0061 per share. The ex-dividend date of this dividend is Monday, August 15th. This represents a $0.02 annualized dividend and a dividend yield of 0.30%. This is a boost from First Majestic Silver's previous quarterly dividend of $0.01. First Majestic Silver's dividend payout ratio (DPR) is currently -5.26%.