First Majestic Silver Target of Unusually High Options Trading (NYSE:AG)

First Majestic Silver Corp. (NYSE:AG) (TSE:FR) was the target of unusually large options trading on Wednesday. Stock traders acquired 27,373 call options on the stock. This is an increase of 100% compared to the typical volume of 13,664 call options.

First Majestic Silver Stock Up 7.0 %

Shares of NYSE:AG traded up $0.38 during trading on Wednesday, reaching $5.76. 13,419,005 shares of the company traded hands, compared to its average volume of 10,316,182. The firm has a fifty day simple moving average of $5.65 and a 200 day simple moving average of $6.04. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.16. First Majestic Silver has a 1-year low of $4.43 and a 1-year high of $8.44. The firm has a market cap of $1.80 billion, a P/E ratio of -16.41 and a beta of 1.24.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings results on Thursday, February 20th. The mining company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The firm had revenue of $172.34 million during the quarter, compared to the consensus estimate of $227.77 million. First Majestic Silver had a negative net margin of 18.17% and a negative return on equity of 3.07%. Analysts anticipate that First Majestic Silver will post 0.54 earnings per share for the current fiscal year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.0057 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.40%. This is a boost from First Majestic Silver’s previous quarterly dividend of $0.00. First Majestic Silver’s payout ratio is currently -5.71%.

Institutional Trading of First Majestic Silver

Large investors have recently made changes to their positions in the stock. Creative Planning acquired a new position in First Majestic Silver during the third quarter valued at approximately $72,000. Oxbow Advisors LLC grew its position in shares of First Majestic Silver by 25.6% in the third quarter. Oxbow Advisors LLC now owns 43,676 shares of the mining company’s stock valued at $262,000 after purchasing an additional 8,899 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of First Majestic Silver by 3.1% in the third quarter. CIBC Asset Management Inc now owns 367,967 shares of the mining company’s stock worth $2,210,000 after purchasing an additional 11,198 shares during the period. Euro Pacific Asset Management LLC boosted its stake in First Majestic Silver by 14.4% during the 3rd quarter. Euro Pacific Asset Management LLC now owns 41,211 shares of the mining company’s stock valued at $251,000 after purchasing an additional 5,181 shares during the period. Finally, Sage Advisors LLC acquired a new stake in First Majestic Silver in the 3rd quarter valued at approximately $112,000. Institutional investors own 27.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. StockNews.com raised First Majestic Silver from a “sell” rating to a “hold” rating in a report on Friday, February 21st. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 target price on shares of First Majestic Silver in a research report on Friday, February 21st. Finally, Scotiabank dropped their price target on First Majestic Silver from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 15th.

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.