First Majestic Silver (NYSE:AG) Shares Gap Down to $6.85

First Majestic Silver Corp. (NYSE:AG) (TSE:FR)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $6.85, but opened at $6.56. First Majestic Silver shares last traded at $6.72, with a volume of 2,386,049 shares traded.

Analyst Upgrades and Downgrades

AG has been the subject of a number of analyst reports. StockNews.com upgraded shares of First Majestic Silver to a “sell” rating in a research report on Monday, February 26th. HC Wainwright upped their price objective on shares of First Majestic Silver from $7.00 to $8.50 and gave the stock a “buy” rating in a research report on Friday, April 19th.

First Majestic Silver Stock Performance

The company has a market cap of $1.94 billion, a PE ratio of -14.02 and a beta of 1.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.04 and a current ratio of 2.57. The stock’s 50-day simple moving average is $5.99 and its 200 day simple moving average is $5.58.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, February 22nd. The mining company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $136.95 million during the quarter. During the same quarter in the prior year, the business earned ($0.07) EPS. As a group, equities analysts anticipate that First Majestic Silver Corp. will post -0.01 EPS for the current year.

First Majestic Silver Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.0048 per share. This is an increase from First Majestic Silver’s previous quarterly dividend of $0.00. This represents a $0.02 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Wednesday, March 13th. First Majestic Silver’s dividend payout ratio (DPR) is -4.17%.

Institutional Investors Weigh In On First Majestic Silver

Hedge funds have recently modified their holdings of the company. CWM LLC boosted its stake in shares of First Majestic Silver by 59.7% during the 3rd quarter. CWM LLC now owns 5,433 shares of the mining company’s stock worth $28,000 after purchasing an additional 2,030 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of First Majestic Silver during the 4th quarter worth about $43,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of First Majestic Silver during the 1st quarter worth about $48,000. Capstone Investment Advisors LLC acquired a new stake in shares of First Majestic Silver during the 4th quarter worth about $69,000. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of First Majestic Silver during the 3rd quarter worth about $77,000. 27.16% of the stock is owned by institutional investors and hedge funds.

About First Majestic Silver

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.