First Majestic Silver Corp. (NYSE:AG) Short Interest Update

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) was the recipient of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 22,420,000 shares, a drop of 16.2% from the February 28th total of 26,770,000 shares. Based on an average daily trading volume, of 18,220,000 shares, the short-interest ratio is currently 1.2 days. Currently, 7.2% of the company’s stock are sold short.

Analyst Ratings Changes

AG has been the subject of a number of recent research reports. StockNews.com upgraded shares of First Majestic Silver from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Scotiabank restated a “sector perform” rating and issued a $6.00 price target on shares of First Majestic Silver in a research note on Wednesday. TD Securities upgraded First Majestic Silver to a “hold” rating in a research note on Monday, March 10th. Finally, HC Wainwright restated a “buy” rating and set a $11.00 target price on shares of First Majestic Silver in a report on Friday, February 21st. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, First Majestic Silver presently has an average rating of “Hold” and an average price target of $8.50.

Institutional Trading of First Majestic Silver

Hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in First Majestic Silver by 805.4% during the 4th quarter. Allworth Financial LP now owns 5,161 shares of the mining company’s stock worth $29,000 after buying an additional 4,591 shares during the period. Generali Investments CEE investicni spolecnost a.s. bought a new position in First Majestic Silver during the fourth quarter worth about $55,000. Bank of Nova Scotia bought a new position in First Majestic Silver during the fourth quarter worth about $57,000. Captrust Financial Advisors acquired a new stake in First Majestic Silver in the 4th quarter worth about $58,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in First Majestic Silver in the 3rd quarter valued at about $70,000. 27.16% of the stock is owned by institutional investors and hedge funds.

First Majestic Silver Stock Performance

Shares of NYSE AG traded down $0.31 during midday trading on Thursday, hitting $6.38. 14,047,105 shares of the company’s stock were exchanged, compared to its average volume of 11,418,192. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $3.09 billion, a PE ratio of -18.23 and a beta of 1.16. First Majestic Silver has a 12 month low of $4.43 and a 12 month high of $8.44. The company’s 50 day moving average price is $6.02 and its 200 day moving average price is $6.20.

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

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.0057 per share. The ex-dividend date was Friday, February 28th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.36%. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s dividend payout ratio (DPR) is -5.71%.

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.