First Majestic Silver Corp. (NYSE:AG) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $25.25.

A number of brokerages have recently weighed in on AG. HC Wainwright boosted their price objective on shares of First Majestic Silver to $30.75 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Wall Street Zen cut shares of First Majestic Silver from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. BMO Capital Markets upgraded shares of First Majestic Silver from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 24th. Scotiabank raised shares of First Majestic Silver to a “hold” rating in a report on Thursday, April 23rd. Finally, Weiss Ratings upgraded shares of First Majestic Silver from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 13th.

Institutional Investors Weigh In On First Majestic Silver

Institutional investors and hedge funds have recently bought and sold shares of the business. Lodestone Wealth Management LLC bought a new stake in First Majestic Silver in the 4th quarter valued at $25,000. EFG International AG bought a new stake in First Majestic Silver in the fourth quarter valued at about $25,000. Harbor Investment Advisory LLC acquired a new position in First Majestic Silver in the first quarter worth about $32,000. PNC Financial Services Group Inc. raised its position in First Majestic Silver by 184.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,508 shares of the mining company’s stock worth $32,000 after purchasing an additional 978 shares in the last quarter. Finally, Spire Wealth Management bought a new position in First Majestic Silver during the fourth quarter worth about $35,000. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Price Performance

Shares of First Majestic Silver stock opened at $16.98 on Friday. The firm has a fifty day simple moving average of $20.71 and a 200-day simple moving average of $20.41. The company has a current ratio of 2.73, a quick ratio of 2.54 and a debt-to-equity ratio of 0.08. First Majestic Silver has a 1-year low of $7.74 and a 1-year high of $32.03. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 28.29 and a beta of 0.86.

First Majestic Silver (NYSE:AG) (TSE:FR) last issued its quarterly earnings data on Tuesday, May 12th. The mining company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). First Majestic Silver had a return on equity of 11.19% and a net margin of 19.51%.The firm had revenue of $476.67 million during the quarter, compared to analyst estimates of $522.00 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. First Majestic Silver’s quarterly revenue was up 95.3% compared to the same quarter last year. On average, sell-side analysts expect that First Majestic Silver will post 0.74 earnings per share for the current year.

First Majestic Silver Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 20th were given a dividend of $0.0171 per share. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Wednesday, May 20th. First Majestic Silver’s dividend payout ratio (DPR) is presently 11.67%.

First Majestic Silver Company Profile

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.