Analysts Set First Majestic Silver Corp. (NYSE:AG) Target Price at $9.63

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has received an average rating of “Hold” from the five analysts that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $9.6250.

Several equities research analysts have recently issued reports on AG shares. National Bank Financial upgraded shares of First Majestic Silver to a “hold” rating in a research report on Thursday, June 12th. Scotiabank boosted their price target on shares of First Majestic Silver from $6.00 to $6.50 and gave the stock a “sector perform” rating in a research report on Wednesday, July 9th. Finally, HC Wainwright restated a “buy” rating and issued a $12.75 price target on shares of First Majestic Silver in a research report on Friday, August 15th.

Institutional Investors Weigh In On First Majestic Silver

Several large investors have recently bought and sold shares of AG. Dimensional Fund Advisors LP increased its position in First Majestic Silver by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,472,159 shares of the mining company’s stock worth $19,060,000 after purchasing an additional 121,892 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in First Majestic Silver by 2.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 257,158 shares of the mining company’s stock worth $1,415,000 after purchasing an additional 7,229 shares during the last quarter. BNP Paribas Financial Markets increased its position in First Majestic Silver by 67.0% during the fourth quarter. BNP Paribas Financial Markets now owns 434,482 shares of the mining company’s stock valued at $2,385,000 after acquiring an additional 174,272 shares during the last quarter. Bayesian Capital Management LP bought a new position in First Majestic Silver during the fourth quarter valued at $322,000. Finally, Captrust Financial Advisors bought a new position in First Majestic Silver during the fourth quarter valued at $58,000. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Trading Up 3.0%

First Majestic Silver stock opened at $9.42 on Thursday. The stock has a market cap of $4.59 billion, a P/E ratio of -940.56 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.27 and a quick ratio of 2.84. First Majestic Silver has a 1 year low of $4.73 and a 1 year high of $9.83. The firm’s 50 day moving average price is $8.75 and its 200-day moving average price is $7.35.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Thursday, August 14th. The mining company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $264.20 million for the quarter, compared to the consensus estimate of $387.25 million. First Majestic Silver had a net margin of 1.78% and a return on equity of 1.72%. The company’s quarterly revenue was up 94.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.07) EPS. On average, equities analysts predict that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.0048 dividend. This represents a $0.02 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, August 29th. First Majestic Silver’s payout ratio is currently -200.00%.

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.