First Majestic Silver (NYSE:AG) Shares Down 2.1%

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s share price fell 2.1% during mid-day trading on Wednesday . The company traded as low as $5.96 and last traded at $5.96. 1,427,549 shares were traded during trading, a decline of 82% from the average session volume of 7,727,796 shares. The stock had previously closed at $6.09.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AG. HC Wainwright restated a “buy” rating and set a $8.50 price target on shares of First Majestic Silver in a research note on Friday, September 6th. Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Friday, September 6th. Finally, Scotiabank boosted their price target on First Majestic Silver from $5.50 to $6.50 and gave the company a “sector perform” rating in a research note on Thursday, May 23rd.

First Majestic Silver Trading Up 3.1 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.44 and a current ratio of 3.05. The stock has a market capitalization of $1.76 billion, a PE ratio of -37.81 and a beta of 1.35. The stock has a 50-day moving average price of $5.65 and a two-hundred day moving average price of $6.23.

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

First Majestic Silver Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.0046 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.02 dividend on an annualized basis and a yield of 0.30%. First Majestic Silver’s dividend payout ratio is presently -6.25%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Creekmur Asset Management LLC purchased a new position in First Majestic Silver in the 4th quarter worth approximately $43,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of First Majestic Silver during the 1st quarter worth approximately $48,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of First Majestic Silver during the 1st quarter worth approximately $62,000. Capstone Investment Advisors LLC purchased a new stake in shares of First Majestic Silver during the 4th quarter worth approximately $69,000. Finally, Dark Forest Capital Management LP purchased a new stake in shares of First Majestic Silver during the 2nd quarter worth approximately $70,000. 27.16% of the stock is owned by hedge funds and other 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.