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

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) has received a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $23.8333.

AG has been the topic of a number of recent analyst reports. Scotiabank reduced their price target on shares of First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. ATB Cormark Capital Markets raised shares of First Majestic Silver from a “hold” rating to a “moderate buy” rating in a report on Friday, July 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of First Majestic Silver in a research note on Wednesday, September 2nd. HC Wainwright boosted their target price on First Majestic Silver from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Wall Street Zen lowered First Majestic Silver from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th.

Institutional Trading of First Majestic Silver

Large investors have recently made changes to their positions in the business. Wealthspire Retirement LLC lifted its position in First Majestic Silver by 1.4% during the 4th quarter. Wealthspire Retirement LLC now owns 32,450 shares of the mining company’s stock worth $541,000 after buying an additional 450 shares in the last quarter. M Holdings Securities Inc. grew its holdings in First Majestic Silver by 3.1% during the 2nd quarter. M Holdings Securities Inc. now owns 16,960 shares of the mining company’s stock worth $285,000 after acquiring an additional 515 shares during the last quarter. Parallel Advisors LLC increased its position in First Majestic Silver by 36.4% in the 1st quarter. Parallel Advisors LLC now owns 2,100 shares of the mining company’s stock valued at $45,000 after acquiring an additional 560 shares in the last quarter. Harbour Investments Inc. increased its position in First Majestic Silver by 2.9% in the 4th quarter. Harbour Investments Inc. now owns 24,656 shares of the mining company’s stock valued at $411,000 after acquiring an additional 697 shares in the last quarter. Finally, Orion Porfolio Solutions LLC increased its position in First Majestic Silver by 3.0% in the 4th quarter. Orion Porfolio Solutions LLC now owns 24,999 shares of the mining company’s stock valued at $416,000 after acquiring an additional 718 shares in the last quarter. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Stock Down 0.0%

Shares of NYSE AG opened at $19.55 on Monday. First Majestic Silver has a 52-week low of $9.68 and a 52-week high of $32.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.38 and a current ratio of 2.57. The business has a fifty day moving average of $18.41 and a two-hundred day moving average of $20.09. The stock has a market cap of $9.64 billion, a PE ratio of 27.54 and a beta of 1.00.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Thursday, July 30th. The mining company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $415.50 million during the quarter, compared to the consensus estimate of $496.00 million. First Majestic Silver had a return on equity of 13.36% and a net margin of 21.18%.The firm’s revenue for the quarter was up 57.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. As a group, equities research analysts expect that First Majestic Silver will post 0.81 earnings per share for the current fiscal year.

First Majestic Silver Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were paid a $0.0152 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%. First Majestic Silver’s payout ratio is currently 8.45%.

About First Majestic Silver

First Majestic Silver Corp. is a mining company focused on the exploration, development, and production of silver, gold, lead, and zinc. The company generates revenue primarily by producing and selling metal concentrates, doré bars, and other refined precious-metal products.

Founded in 2002 and headquartered in Vancouver, British Columbia, First Majestic has historically concentrated its operations in Mexico and the United States. Its principal Mexican mining assets have included the San Dimas, Santa Elena, and La Encantada mines, while its U.S.