First Majestic Silver (NYSE:AG) Sets New 12-Month High – Here’s What Happened

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $15.99 and last traded at $15.4160, with a volume of 5720222 shares changing hands. The stock had previously closed at $15.23.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AG. National Bank Financial upgraded shares of First Majestic Silver from a “hold” rating to a “strong-buy” rating in a research note on Sunday, October 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Majestic Silver in a report on Wednesday, October 8th. Scotiabank lifted their price objective on shares of First Majestic Silver from $9.00 to $12.50 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. HC Wainwright set a $17.50 price objective on shares of First Majestic Silver in a report on Friday, October 10th. Finally, Cormark upgraded First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.33.

First Majestic Silver Price Performance

The stock has a market capitalization of $7.77 billion, a PE ratio of -1,582.82 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.27 and a quick ratio of 2.84. The stock’s fifty day moving average is $12.60 and its 200-day moving average is $9.84.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings data on Wednesday, November 5th. The mining company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). First Majestic Silver had a net margin of 1.78% and a return on equity of 1.72%. The firm had revenue of $285.10 million during the quarter, compared to analysts’ expectations of $429.78 million. During the same period in the previous year, the firm posted ($0.09) EPS. The firm’s quarterly revenue was up 95.3% on a year-over-year basis. As a group, equities analysts predict that First Majestic Silver Corp. will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a $0.0052 dividend. The ex-dividend date of this dividend was Friday, November 14th. 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 0.1%. First Majestic Silver’s dividend payout ratio is 14.29%.

Institutional Investors Weigh In On First Majestic Silver

A number of institutional investors have recently added to or reduced their stakes in AG. Moors & Cabot Inc. increased its holdings in First Majestic Silver by 2.8% during the 3rd quarter. Moors & Cabot Inc. now owns 35,295 shares of the mining company’s stock worth $434,000 after purchasing an additional 945 shares during the period. AdvisorNet Financial Inc boosted its stake in shares of First Majestic Silver by 33.2% in the 3rd quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company’s stock valued at $48,000 after buying an additional 971 shares during the period. Signaturefd LLC grew its position in shares of First Majestic Silver by 4.7% during the third quarter. Signaturefd LLC now owns 22,275 shares of the mining company’s stock worth $274,000 after buying an additional 1,008 shares in the last quarter. SBI Securities Co. Ltd. grew its position in shares of First Majestic Silver by 6.1% during the second quarter. SBI Securities Co. Ltd. now owns 22,357 shares of the mining company’s stock worth $185,000 after buying an additional 1,282 shares in the last quarter. Finally, Mariner LLC increased its stake in shares of First Majestic Silver by 2.7% during the third quarter. Mariner LLC now owns 51,588 shares of the mining company’s stock worth $634,000 after buying an additional 1,366 shares during the period. 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.