First Majestic Silver Corp. (NYSE:AG) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $25.25.

A number of analysts have commented on AG shares. HC Wainwright upped their price objective on shares of First Majestic Silver to $30.75 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings lowered shares of First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Wall Street Zen lowered shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research lowered shares of First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, BMO Capital Markets raised shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 24th.

Institutional Investors Weigh In On First Majestic Silver

A number of institutional investors have recently modified their holdings of the stock. Rathbones Group PLC boosted its stake in shares of First Majestic Silver by 66.6% during the 1st quarter. Rathbones Group PLC now owns 185,720 shares of the mining company’s stock valued at $3,983,000 after buying an additional 74,260 shares during the period. Parallel Advisors LLC boosted its stake in shares of First Majestic Silver by 36.4% during the 1st quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock valued at $45,000 after buying an additional 560 shares during the period. Bank of America Corp DE grew its stake in First Majestic Silver by 92.3% in the first quarter. Bank of America Corp DE now owns 6,082,824 shares of the mining company’s stock valued at $130,659,000 after purchasing an additional 2,919,008 shares in the last quarter. Parvin Asset Management LLC grew its stake in First Majestic Silver by 3.4% in the first quarter. Parvin Asset Management LLC now owns 84,125 shares of the mining company’s stock valued at $1,807,000 after purchasing an additional 2,775 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in First Majestic Silver by 207.9% in the first quarter. EverSource Wealth Advisors LLC now owns 4,129 shares of the mining company’s stock valued at $89,000 after purchasing an additional 2,788 shares in the last quarter. Institutional investors and hedge funds own 27.16% of the company’s stock.

First Majestic Silver Stock Performance

Shares of AG opened at $15.70 on Friday. The firm’s 50 day moving average is $20.50 and its 200-day moving average is $20.58. The stock has a market capitalization of $7.75 billion, a P/E ratio of 26.16 and a beta of 0.86. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.73 and a quick ratio of 2.54. First Majestic Silver has a 12-month low of $7.74 and a 12-month high of $32.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings data on Tuesday, May 12th. The mining company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). First Majestic Silver had a net margin of 19.51% and a return on equity of 11.19%. The firm had revenue of $476.67 million for the quarter, compared to analysts’ expectations of $522.00 million. During the same period in the prior year, the company posted $0.05 earnings per share. First Majestic Silver’s quarterly revenue was up 95.3% compared to the same quarter last year. Equities research analysts anticipate that First Majestic Silver will post 0.74 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 20th were given a $0.0171 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.4%. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Wednesday, May 20th. First Majestic Silver’s payout ratio is currently 11.67%.

First Majestic Silver Company Profile

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.