First Majestic Silver (NYSE:AG) Given “Buy” Rating at HC Wainwright

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

First Majestic Silver Stock Performance

Shares of NYSE:AG opened at $5.84 on Friday. The business’s fifty day moving average price is $6.09 and its two-hundred day moving average price is $6.10. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.03 and a quick ratio of 2.45. First Majestic Silver has a fifty-two week low of $4.17 and a fifty-two week high of $8.44. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -21.63 and a beta of 1.25.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results on Thursday, November 7th. The mining company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). The firm had revenue of $146.09 million during the quarter. First Majestic Silver had a negative net margin of 14.89% and a negative return on equity of 4.19%. As a group, analysts predict that First Majestic Silver will post -0.17 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.0048 dividend. This represents a $0.02 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio (DPR) is presently -3.70%.

Hedge Funds Weigh In On First Majestic Silver

Large investors have recently modified their holdings of the stock. Blue Trust Inc. lifted its holdings in First Majestic Silver by 77.3% during the 3rd 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 in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of First Majestic Silver during the second quarter worth $70,000. Y Intercept Hong Kong Ltd acquired a new position in shares of First Majestic Silver during the third quarter valued at $70,000. Corundum Trust Company INC bought a new position in First Majestic Silver in the third quarter valued at about $72,000. Finally, Creative Planning bought a new position in shares of First Majestic Silver in the 3rd quarter valued at about $72,000. 27.16% of the stock is currently owned by institutional investors and hedge funds.

First Majestic Silver Company Profile

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.