First Majestic Silver (NYSE:AG) Shares Gap Up to $5.85

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $5.85, but opened at $6.06. First Majestic Silver shares last traded at $6.32, with a volume of 1,419,553 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $8.50 target price on shares of First Majestic Silver in a research report on Thursday, May 9th. Scotiabank upped their target price on shares of First Majestic Silver from $5.50 to $6.50 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd.

First Majestic Silver Price Performance

The firm’s 50-day moving average is $6.74 and its 200-day moving average is $6.00. The company has a market capitalization of $1.81 billion, a PE ratio of -38.94 and a beta of 1.32. The company has a quick ratio of 1.77, a current ratio of 2.33 and a debt-to-equity ratio of 0.18.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Wednesday, May 8th. The mining company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The business had revenue of $106.01 million during the quarter. First Majestic Silver had a negative return on equity of 3.28% and a negative net margin of 9.18%. Equities analysts predict that First Majestic Silver Corp. will post -0.03 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 17th were paid a $0.004 dividend. This represents a $0.02 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend was Thursday, May 16th. First Majestic Silver’s dividend payout ratio is presently -6.25%.

Institutional Trading of First Majestic Silver

Several hedge funds have recently added to or reduced their stakes in AG. Toronto Dominion Bank lifted its stake in First Majestic Silver by 5.8% in the third quarter. Toronto Dominion Bank now owns 71,753 shares of the mining company’s stock worth $368,000 after purchasing an additional 3,924 shares during the last quarter. AXQ Capital LP raised its stake in shares of First Majestic Silver by 63.2% during the third quarter. AXQ Capital LP now owns 17,300 shares of the mining company’s stock valued at $89,000 after acquiring an additional 6,700 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of First Majestic Silver by 46.7% during the third quarter. Moneta Group Investment Advisors LLC now owns 81,588 shares of the mining company’s stock valued at $419,000 after acquiring an additional 25,973 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of First Majestic Silver by 17.1% during the third quarter. Public Sector Pension Investment Board now owns 619,920 shares of the mining company’s stock valued at $3,191,000 after acquiring an additional 90,526 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of First Majestic Silver by 1.2% during the third quarter. Vanguard Group Inc. now owns 9,785,103 shares of the mining company’s stock valued at $50,198,000 after acquiring an additional 113,236 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.