First Majestic Silver (NYSE:AG) Trading Down 3.5%

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s share price dropped 3.5% on Monday . The company traded as low as $6.07 and last traded at $6.08. Approximately 776,742 shares were traded during trading, a decline of 90% from the average daily volume of 7,919,439 shares. The stock had previously closed at $6.30.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, September 6th. HC Wainwright reaffirmed a “buy” rating and issued a $8.50 price target on shares of First Majestic Silver in a research note on Friday, September 6th.

First Majestic Silver Stock Down 4.8 %

The company’s fifty day simple moving average is $5.63 and its 200 day simple moving average is $6.29. The company has a quick ratio of 2.44, a current ratio of 3.05 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.74 billion, a PE ratio of -37.38 and a beta of 1.35.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings results on Thursday, August 1st. The mining company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $136.20 million during the quarter, compared to analysts’ expectations of $129.74 million. First Majestic Silver had a negative return on equity of 4.39% and a negative net margin of 15.37%. First Majestic Silver’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) earnings per share. Analysts anticipate that First Majestic Silver Corp. will post -0.13 earnings per share for the current fiscal 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 paid a $0.0046 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.02 annualized dividend and a dividend yield of 0.31%. First Majestic Silver’s payout ratio is -6.25%.

Hedge Funds Weigh In On First Majestic Silver

Several large investors have recently made changes to their positions in AG. Creekmur Asset Management LLC bought a new position in First Majestic Silver during the 4th quarter valued at approximately $43,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in First Majestic Silver in the first quarter worth $48,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of First Majestic Silver in the first quarter worth $62,000. Capstone Investment Advisors LLC bought a new position in shares of First Majestic Silver during the fourth quarter valued at $69,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of First Majestic Silver in the 2nd quarter worth about $70,000. 27.16% of the stock is currently owned by hedge funds and other 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.