First Majestic Silver (NYSE:AG) Shares Gap Up to $5.79

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s share price gapped up before the market opened on Friday . The stock had previously closed at $5.79, but opened at $5.98. First Majestic Silver shares last traded at $5.97, with a volume of 2,803,564 shares traded.

Analyst Ratings Changes

Several brokerages have commented on AG. HC Wainwright reiterated a “buy” rating and set a $8.50 price target on shares of First Majestic Silver in a report on Friday, September 6th. Scotiabank boosted their target price on shares of First Majestic Silver from $5.50 to $6.50 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. Finally, Cormark raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, September 6th.

First Majestic Silver Stock Performance

The firm’s 50 day moving average price is $5.68 and its 200-day moving average price is $6.20. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -38.31 and a beta of 1.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.05 and a quick ratio of 2.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Thursday, August 1st. The mining company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The company had revenue of $136.20 million during the quarter, compared to analyst estimates of $129.74 million. First Majestic Silver had a negative return on equity of 4.39% and a negative net margin of 15.37%. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) earnings per share. On average, analysts anticipate that First Majestic Silver Corp. will post -0.11 earnings per share for the current year.

First Majestic Silver Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.0046 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.02 annualized dividend and a yield of 0.30%. First Majestic Silver’s dividend payout ratio (DPR) is -12.50%.

Institutional Trading of First Majestic Silver

Several institutional investors have recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd bought a new stake in First Majestic Silver in the second quarter valued at about $258,000. The Manufacturers Life Insurance Company grew its stake in shares of First Majestic Silver by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 238,618 shares of the mining company’s stock valued at $1,411,000 after purchasing an additional 3,980 shares during the period. Dark Forest Capital Management LP bought a new position in shares of First Majestic Silver during the 2nd quarter worth approximately $70,000. Toronto Dominion Bank boosted its stake in First Majestic Silver by 34.4% in the 2nd quarter. Toronto Dominion Bank now owns 27,549 shares of the mining company’s stock valued at $163,000 after buying an additional 7,052 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in First Majestic Silver by 60.6% in the second quarter. Cubist Systematic Strategies LLC now owns 80,164 shares of the mining company’s stock valued at $474,000 after acquiring an additional 30,260 shares during the period. Institutional investors and hedge funds own 27.16% of the company’s stock.

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.