First Majestic Silver (NYSE:AG) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of First Majestic Silver (NYSE:AG) (TSE:FR) in a research report released on Friday morning,Benzinga reports. They currently have a $11.00 price objective on the mining company’s stock.

Separately, Scotiabank lowered their target price on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 15th.

First Majestic Silver Stock Down 3.7 %

AG stock opened at $5.55 on Friday. The firm’s 50-day moving average is $5.68 and its two-hundred day moving average is $6.01. The company has a current ratio of 3.03, a quick ratio of 2.45 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -20.54 and a beta of 1.24. First Majestic Silver has a 52 week low of $4.28 and a 52 week high of $8.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its earnings results on Thursday, February 20th. The mining company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The firm had revenue of $172.34 million during the quarter, compared to analyst estimates of $227.77 million. First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. On average, analysts forecast that First Majestic Silver will post -0.18 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.0057 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.02 annualized dividend and a dividend yield of 0.41%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio is currently -7.41%.

Institutional Investors Weigh In On First Majestic Silver

Several large investors have recently modified their holdings of the stock. Franklin Resources Inc. increased its position in shares of First Majestic Silver by 8.3% in the fourth quarter. Franklin Resources Inc. now owns 23,240 shares of the mining company’s stock worth $128,000 after acquiring an additional 1,776 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of First Majestic Silver by 6.7% in the third quarter. Toronto Dominion Bank now owns 29,404 shares of the mining company’s stock valued at $176,000 after purchasing an additional 1,855 shares in the last quarter. Blue Trust Inc. boosted its position in shares of First Majestic Silver by 77.3% in the third quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock worth $31,000 after buying an additional 2,253 shares during the period. CIBC Asset Management Inc boosted its position in shares of First Majestic Silver by 0.6% in the fourth quarter. CIBC Asset Management Inc now owns 370,255 shares of the mining company’s stock worth $2,030,000 after buying an additional 2,288 shares during the period. Finally, Rathbones Group PLC grew its holdings in shares of First Majestic Silver by 4.3% during the fourth quarter. Rathbones Group PLC now owns 56,852 shares of the mining company’s stock valued at $312,000 after buying an additional 2,325 shares in the last quarter. 27.16% of the stock is owned by 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.