First Majestic Silver (NYSE:AG) Trading Up 3.2% – What’s Next?

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

Analyst Ratings Changes

AG has been the subject of several research analyst reports. Cormark upgraded shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, September 6th. HC Wainwright reaffirmed a “buy” rating and set a $8.50 price objective on shares of First Majestic Silver in a report on Friday, October 18th.

First Majestic Silver Trading Down 2.5 %

The company has a market capitalization of $1.67 billion, a PE ratio of -20.52 and a beta of 1.25. The stock has a fifty day moving average of $6.47 and a two-hundred day moving average of $6.13. 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 posted its quarterly earnings results on Thursday, November 7th. The mining company reported ($0.03) EPS for the quarter, missing the consensus estimate 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. As a group, sell-side analysts anticipate that First Majestic Silver Corp. will post -0.17 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders 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. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, November 15th. First Majestic Silver’s dividend payout ratio (DPR) is -3.70%.

Hedge Funds Weigh In On First Majestic Silver

A number of large investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted its holdings in shares of First Majestic Silver by 77.3% during the third quarter. Blue Trust Inc. now owns 5,166 shares of the mining company’s stock worth $31,000 after purchasing an additional 2,253 shares during the period. Dark Forest Capital Management LP bought a new position in First Majestic Silver during the 2nd quarter valued at approximately $70,000. Y Intercept Hong Kong Ltd purchased a new stake in First Majestic Silver in the 3rd quarter worth approximately $70,000. Corundum Trust Company INC bought a new stake in shares of First Majestic Silver in the 3rd quarter worth approximately $72,000. Finally, Creative Planning purchased a new position in shares of First Majestic Silver during the third quarter valued at approximately $72,000. 27.16% of the stock is 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.