First Majestic Silver (NYSE:AG) Given New $8.50 Price Target at HC Wainwright

First Majestic Silver (NYSE:AG) (TSE:FR) had its price target hoisted by HC Wainwright from $7.00 to $8.50 in a report published on Friday, Benzinga reports. They currently have a buy rating on the mining company’s stock.

Separately, StockNews.com upgraded shares of First Majestic Silver to a sell rating in a report on Monday, February 26th.

First Majestic Silver Stock Performance

NYSE AG opened at $6.74 on Friday. The company has a current ratio of 2.57, a quick ratio of 2.04 and a debt-to-equity ratio of 0.18. First Majestic Silver has a 52 week low of $4.17 and a 52 week high of $8.44. The firm has a 50 day moving average of $5.71 and a two-hundred day moving average of $5.50.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its quarterly earnings results on Thursday, February 22nd. The mining company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. First Majestic Silver had a negative net margin of 23.55% and a negative return on equity of 1.85%. The company had revenue of $136.95 million during the quarter. During the same quarter last year, the firm earned ($0.07) EPS. Sell-side analysts predict that First Majestic Silver will post -0.06 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.0048 dividend. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date was Wednesday, March 13th. This represents a $0.02 annualized dividend and a dividend yield of 0.28%. First Majestic Silver’s dividend payout ratio is presently -4.17%.

Institutional Trading of First Majestic Silver

A number of large investors have recently bought and sold shares of the business. Moneta Group Investment Advisors LLC boosted its stake in First Majestic Silver by 105,048.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 47,055,036 shares of the mining company’s stock worth $392,439,000 after purchasing an additional 47,010,285 shares during the period. Van ECK Associates Corp raised its position in First Majestic Silver by 2.4% during the 4th quarter. Van ECK Associates Corp now owns 30,341,845 shares of the mining company’s stock worth $186,600,000 after buying an additional 709,879 shares during the last quarter. Vanguard Group Inc. raised its position in First Majestic Silver by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 10,265,051 shares of the mining company’s stock worth $63,130,000 after buying an additional 479,948 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in First Majestic Silver by 4.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,985,680 shares of the mining company’s stock worth $43,071,000 after buying an additional 266,864 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in First Majestic Silver by 17.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,820,270 shares of the mining company’s stock worth $17,345,000 after buying an additional 409,050 shares during the last quarter. Institutional investors and hedge funds 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.