HC Wainwright Reiterates “Buy” Rating for First Majestic Silver (NYSE:AG)

HC Wainwright reissued their buy rating on shares of First Majestic Silver (NYSE:AG) (TSE:FR) in a research report report published on Friday morning, Benzinga reports. The firm currently has a $8.50 target price on the mining company’s stock.

Separately, Scotiabank upped their target price on First Majestic Silver from $5.50 to $6.50 and gave the stock a sector perform rating in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $7.50.

First Majestic Silver Stock Performance

Shares of NYSE:AG opened at $4.63 on Friday. The firm has a market capitalization of $1.34 billion, a PE ratio of -28.90 and a beta of 1.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.05 and a quick ratio of 2.44. The business has a 50-day moving average of $5.74 and a two-hundred day moving average of $6.18. First Majestic Silver has a 12 month low of $4.17 and a 12 month high of $8.44.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, August 1st. The mining company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $136.20 million for the quarter, compared to analyst estimates of $129.74 million. First Majestic Silver had a negative return on equity of 4.39% and a negative net margin of 15.37%. The business’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.02) earnings per share. As a group, research analysts forecast that First Majestic Silver will post -0.11 earnings per share for the current year.

First Majestic Silver Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.0046 per share. This represents a $0.02 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Friday, August 16th. First Majestic Silver’s dividend payout ratio is presently -12.50%.

Institutional Trading of First Majestic Silver

A number of institutional investors and hedge funds have recently made changes to their positions in AG. National Bank of Canada FI raised its position in shares of First Majestic Silver by 5.9% during the 4th quarter. National Bank of Canada FI now owns 711,461 shares of the mining company’s stock worth $4,255,000 after purchasing an additional 39,365 shares during the period. BNP Paribas Financial Markets raised its position in shares of First Majestic Silver by 108.7% during the 4th quarter. BNP Paribas Financial Markets now owns 444,848 shares of the mining company’s stock worth $2,736,000 after purchasing an additional 231,690 shares during the period. Trexquant Investment LP raised its position in shares of First Majestic Silver by 1.8% during the 4th quarter. Trexquant Investment LP now owns 178,151 shares of the mining company’s stock worth $1,096,000 after purchasing an additional 3,069 shares during the period. Aigen Investment Management LP acquired a new stake in First Majestic Silver in the 4th quarter valued at approximately $118,000. Finally, TD Asset Management Inc increased its position in First Majestic Silver by 2.0% in the 4th quarter. TD Asset Management Inc now owns 757,732 shares of the mining company’s stock valued at $4,672,000 after acquiring an additional 14,848 shares during the period. 27.16% of the stock is currently 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.