First Majestic Silver (NYSE:AG) Shares Gap Up – What’s Next?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $6.52, but opened at $6.76. First Majestic Silver shares last traded at $6.67, with a volume of 1,655,648 shares.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AG shares. Scotiabank reissued a “sector perform” rating and set a $6.00 target price on shares of First Majestic Silver in a report on Wednesday, April 2nd. StockNews.com upgraded First Majestic Silver from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of First Majestic Silver in a research note on Friday, February 21st. TD Securities upgraded First Majestic Silver to a “hold” rating in a research report on Monday, March 10th. Finally, National Bankshares restated a “sector perform” rating on shares of First Majestic Silver in a research report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.50.

First Majestic Silver Stock Down 0.9 %

The company has a market cap of $3.13 billion, a price-to-earnings ratio of -18.46 and a beta of 0.97. The business has a fifty day moving average of $6.13 and a two-hundred day moving average of $6.18. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings results on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $172.34 million during the quarter, compared to analysts’ expectations of $227.77 million. First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. As a group, equities analysts anticipate that First Majestic Silver Corp. will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.0057 per share. The ex-dividend date was Friday, February 28th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.35%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio is presently -5.71%.

Institutional Trading of First Majestic Silver

Several large investors have recently made changes to their positions in AG. Parallel Advisors LLC boosted its stake in First Majestic Silver by 1,221.6% during the 1st quarter. Parallel Advisors LLC now owns 3,793 shares of the mining company’s stock worth $25,000 after purchasing an additional 3,506 shares during the last quarter. Allworth Financial LP grew its stake in First Majestic Silver by 805.4% during the 4th quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock valued at $29,000 after acquiring an additional 4,591 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in First Majestic Silver in the 4th quarter valued at about $55,000. Bank of Nova Scotia acquired a new stake in shares of First Majestic Silver in the fourth quarter valued at approximately $57,000. Finally, Captrust Financial Advisors acquired a new position in First Majestic Silver during the fourth quarter worth $58,000. 27.16% of the stock is currently owned by hedge funds and other institutional investors.

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.