First Majestic Silver Target of Unusually Large Options Trading (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) was the recipient of unusually large options trading activity on Monday. Stock investors purchased 28,181 call options on the company. This represents an increase of approximately 52% compared to the typical daily volume of 18,510 call options.

First Majestic Silver Stock Performance

NYSE:AG traded up $0.36 during mid-day trading on Monday, reaching $6.65. The company’s stock had a trading volume of 23,052,844 shares, compared to its average volume of 11,652,829. First Majestic Silver has a 12-month low of $4.43 and a 12-month high of $8.09. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average price is $6.04 and its two-hundred day moving average price is $6.17. The stock has a market cap of $3.22 billion, a P/E ratio of -19.00 and a beta of 0.97.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Thursday, February 20th. The mining company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $172.34 million during the quarter, compared to the consensus estimate of $227.77 million. First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. On average, equities analysts forecast that First Majestic Silver will post 0.54 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.0057 dividend. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.34%. First Majestic Silver’s payout ratio is -5.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AG shares. HC Wainwright reiterated a “buy” rating and issued a $11.00 target price on shares of First Majestic Silver in a report on Friday, February 21st. StockNews.com raised shares of First Majestic Silver from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. National Bankshares reissued a “sector perform” rating on shares of First Majestic Silver in a report on Wednesday, April 2nd. TD Securities upgraded First Majestic Silver to a “hold” rating in a research note on Monday, March 10th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $6.00 price target on shares of First Majestic Silver in a report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.50.

Institutional Investors Weigh In On First Majestic Silver

Several hedge funds and other institutional investors have recently modified their holdings of AG. HighTower Advisors LLC grew its position in First Majestic Silver by 14.2% in the 3rd quarter. HighTower Advisors LLC now owns 131,877 shares of the mining company’s stock valued at $793,000 after acquiring an additional 16,424 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in First Majestic Silver during the 3rd quarter valued at about $70,000. Public Employees Retirement System of Ohio purchased a new stake in First Majestic Silver in the 3rd quarter valued at about $504,000. Barclays PLC bought a new position in First Majestic Silver in the 3rd quarter worth about $2,419,000. Finally, Geode Capital Management LLC increased its position in shares of 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 worth $825,000 after acquiring an additional 12,171 shares during the period. 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.