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

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) gapped down before the market opened on Wednesday . The stock had previously closed at $5.79, but opened at $5.60. First Majestic Silver shares last traded at $5.62, with a volume of 1,019,385 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently 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 report on Friday, August 2nd. Scotiabank upped their price objective on shares of 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 1.0 %

The company’s 50 day moving average price is $5.86 and its 200 day moving average price is $6.13. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -34.97 and a beta of 1.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.77 and a current ratio of 2.33.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Thursday, August 1st. The mining company reported ($0.07) earnings per share (EPS) 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 4.41%. The firm had revenue of $136.20 million during the quarter, compared to analyst estimates of $129.74 million. During the same quarter in the previous year, the business posted ($0.02) earnings per share. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. Research analysts anticipate that First Majestic Silver Corp. will post -0.03 EPS for the current year.

First Majestic Silver Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a $0.0046 dividend. The ex-dividend date is Friday, August 16th. This represents a $0.02 annualized dividend and a yield of 0.33%. First Majestic Silver’s dividend payout ratio is -6.25%.

Hedge Funds Weigh In On First Majestic Silver

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Creekmur Asset Management LLC bought a new position in First Majestic Silver during the 4th quarter valued at about $43,000. Dixon Mitchell Investment Counsel Inc. bought a new position in First Majestic Silver during the 1st quarter valued at about $48,000. B. Riley Wealth Advisors Inc. bought a new position in First Majestic Silver during the 1st quarter valued at about $62,000. Capstone Investment Advisors LLC bought a new position in First Majestic Silver during the 4th quarter valued at about $69,000. Finally, Dark Forest Capital Management LP bought a new position in First Majestic Silver during the 2nd quarter valued at about $70,000. 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.