First Majestic Silver (NYSE:AG) Trading 3.2% Higher – Time to Buy?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s stock price shot up 3.2% during trading on Thursday . The stock traded as high as $5.78 and last traded at $5.76. 987,329 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 8,442,650 shares. The stock had previously closed at $5.58.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AG shares. HC Wainwright reaffirmed a “buy” rating and set a $8.50 target price on shares of First Majestic Silver in a research note on Friday, October 18th. 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 Trading Down 2.5 %

The stock’s fifty day moving average price is $6.47 and its 200 day moving average price is $6.13. The stock has a market cap of $1.67 billion, a P/E ratio of -20.52 and a beta of 1.25. The company has a current ratio of 3.03, a quick ratio of 2.45 and a debt-to-equity ratio of 0.16.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Thursday, November 7th. The mining company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). First Majestic Silver had a negative return on equity of 4.19% and a negative net margin of 14.89%. The business had revenue of $146.09 million during the quarter. Equities research analysts expect that First Majestic Silver Corp. will post -0.17 earnings per share for the current 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 paid a dividend of $0.0048 per share. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Friday, November 15th. This represents a $0.02 dividend on an annualized basis and a yield of 0.35%. First Majestic Silver’s payout ratio is presently -3.70%.

Institutional Investors Weigh In On First Majestic Silver

A number of institutional investors have recently modified their holdings of the stock. Barclays PLC bought a new position in First Majestic Silver in the 3rd quarter worth about $2,419,000. Marshall Wace LLP purchased a new position in First Majestic Silver in the second quarter worth about $3,904,000. National Bank of Canada FI lifted its stake in shares of First Majestic Silver by 18.0% in the third quarter. National Bank of Canada FI now owns 683,627 shares of the mining company’s stock worth $4,102,000 after buying an additional 104,092 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of First Majestic Silver by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,158,908 shares of the mining company’s stock valued at $18,701,000 after buying an additional 103,232 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of First Majestic Silver by 17.7% during the third quarter. Raymond James & Associates now owns 558,096 shares of the mining company’s stock valued at $3,349,000 after acquiring an additional 83,867 shares in the last quarter. 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.