First Majestic Silver Corp. (NYSE:AG) Given Average Recommendation of “Hold” by Brokerages

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has received an average rating of “Hold” from the four analysts that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $8.50.

Several brokerages recently commented on AG. Scotiabank reiterated a “sector perform” rating and issued a $6.00 price objective on shares of First Majestic Silver in a research note on Wednesday, April 2nd. HC Wainwright reiterated a “buy” rating and set a $11.00 price target on shares of First Majestic Silver in a research report on Friday, February 21st. National Bankshares restated a “sector perform” rating on shares of First Majestic Silver in a report on Wednesday, April 2nd. StockNews.com raised First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, TD Securities raised First Majestic Silver to a “hold” rating in a report on Monday, March 10th.

First Majestic Silver Stock Performance

NYSE AG opened at $6.28 on Monday. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -17.93 and a beta of 0.97. The business’s 50 day moving average is $6.04 and its two-hundred day moving average is $6.17. 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.

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

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.0057 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.02 dividend on an annualized basis and a 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 is presently -5.71%.

Hedge Funds Weigh In On First Majestic Silver

Several hedge funds have recently bought and sold shares of AG. Barclays PLC acquired a new stake in shares of First Majestic Silver during the third quarter valued at $2,419,000. Realta Investment Advisors lifted its holdings in First Majestic Silver by 16.8% in the 4th quarter. Realta Investment Advisors now owns 497,726 shares of the mining company’s stock valued at $2,882,000 after purchasing an additional 71,456 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of First Majestic Silver by 18.0% during the 3rd quarter. National Bank of Canada FI now owns 683,627 shares of the mining company’s stock worth $4,102,000 after purchasing an additional 104,092 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of First Majestic Silver during the third quarter worth about $748,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of First Majestic Silver by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 565,982 shares of the mining company’s stock valued at $3,109,000 after buying an additional 18,219 shares during the last quarter. Hedge funds and other institutional investors own 27.16% of the company’s stock.

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.