First Majestic Silver’s (AG) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of First Majestic Silver (NYSE:AG) (TSE:FR) in a report released on Friday morning,Benzinga reports. They currently have a $11.00 target price on the mining company’s stock.

First Majestic Silver Trading Down 0.7 %

AG opened at $5.84 on Friday. The company has a market cap of $1.76 billion, a P/E ratio of -21.63 and a beta of 1.25. First Majestic Silver has a 1-year low of $4.17 and a 1-year high of $8.44. The company has a current ratio of 3.03, a quick ratio of 2.45 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $6.09 and its 200-day moving average is $6.10.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings results 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 for the quarter. Equities research analysts predict that First Majestic Silver will post -0.17 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.0048 per share. 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. This represents a $0.02 annualized dividend and a dividend yield of 0.33%. First Majestic Silver’s dividend payout ratio is currently -3.70%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Synovus Financial Corp purchased a new stake in shares of First Majestic Silver in the 3rd quarter worth about $452,000. Tidal Investments LLC lifted its holdings in shares of First Majestic Silver by 1.8% during the third quarter. Tidal Investments LLC now owns 5,780,689 shares of the mining company’s stock valued at $34,684,000 after purchasing an additional 99,640 shares in the last quarter. Virtu Financial LLC boosted its holdings in shares of First Majestic Silver by 95.9% during the 3rd quarter. Virtu Financial LLC now owns 136,356 shares of the mining company’s stock valued at $818,000 after acquiring an additional 66,750 shares during the last quarter. Toronto Dominion Bank grew its position in First Majestic Silver by 6.7% in the 3rd quarter. Toronto Dominion Bank now owns 29,404 shares of the mining company’s stock worth $176,000 after purchasing an additional 1,855 shares during the period. Finally, Geode Capital Management LLC increased its position in First Majestic Silver by 9.8% during the third quarter. Geode Capital Management LLC now owns 136,901 shares of the mining company’s stock valued at $825,000 after acquiring an additional 12,171 shares during the last quarter. 27.16% of the stock is owned by 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.