First Majestic Silver (NYSE:AG) Stock Price Down 4% – Time to Sell?

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) shares traded down 4% during trading on Thursday . The company traded as low as $14.84 and last traded at $15.0650. 10,674,725 shares traded hands during trading, a decline of 49% from the average session volume of 20,831,459 shares. The stock had previously closed at $15.69.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AG shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Majestic Silver in a report on Wednesday, October 8th. TD Securities raised shares of First Majestic Silver from a “hold” rating to a “buy” rating in a report on Wednesday, October 8th. Scotiabank raised their target price on shares of First Majestic Silver from $9.00 to $12.50 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. HC Wainwright set a $17.50 price target on shares of First Majestic Silver in a report on Friday, October 10th. Finally, Wall Street Zen lowered First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.33.

First Majestic Silver Stock Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.96 and a current ratio of 3.38. The firm has a market capitalization of $7.37 billion, a PE ratio of 107.32 and a beta of 0.84. The firm’s 50 day moving average price is $12.83 and its 200-day moving average price is $10.03.

First Majestic Silver (NYSE:AG) (TSE:FR) last released its quarterly earnings results 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 return on equity of 3.14% and a net margin of 7.07%.The business had revenue of $285.10 million during the quarter, compared to analyst estimates of $429.78 million. During the same period in the previous year, the company posted ($0.09) EPS. The business’s revenue for the quarter was up 95.3% compared to the same quarter last year. On average, research analysts expect that First Majestic Silver Corp. will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a $0.0052 dividend. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.02 annualized dividend and a dividend yield of 0.1%. First Majestic Silver’s dividend payout ratio is currently 14.29%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Bogart Wealth LLC purchased a new stake in shares of First Majestic Silver during the third quarter worth $28,000. Sound Income Strategies LLC boosted its stake in shares of First Majestic Silver by 29,900.0% in the 3rd quarter. Sound Income Strategies LLC now owns 3,000 shares of the mining company’s stock valued at $37,000 after buying an additional 2,990 shares during the period. AdvisorNet Financial Inc grew its position in shares of First Majestic Silver by 33.2% during the third quarter. AdvisorNet Financial Inc now owns 3,898 shares of the mining company’s stock worth $48,000 after buying an additional 971 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of First Majestic Silver during the first quarter worth approximately $29,000. Finally, Quarry LP acquired a new stake in First Majestic Silver in the third quarter valued at approximately $57,000. Institutional investors and hedge funds own 27.16% of the company’s stock.

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.